US Cash Grains-Corn, soy basis bids mostly steady-stronger
CHICAGO, Oct 23 (Reuters) - Spot basis bids for corn and soybeans were mostly steady to stronger in the US Midwest on Friday, reflecting demand from grain handlers as a weeks-long slide in Chicago Board of Trade corn futures curbed farmer selling and the soybean harvest neared completion in some areas, merchandisers said.
The spot corn basis firmed by 4 to 5 cents a bushel at ethanol plants in Illinois and Iowa, and by a penny at a Cincinnati, Ohio, elevator.
The corn basis improved by 1 to 5 cents at two Midwest river elevators, where grain is loaded onto barges for shipment on the Mississippi River toward Gulf Coast exporters.
For soybeans, bids improved by 9 to 16 cents at two river elevators, reflecting demand from Gulf exporters following a series of US soybean sales to China since mid-October.
However, the soybean basis weakened by 5 cents at a Toledo, Ohio, terminal.
Among domestic processors, soybean bids were steady to firmer, with the basis improving by 5 cents at a Morristown, Indiana, crushing facility.
Some Indiana farmers were nearly finished harvesting soybeans and were moving on to corn, two grain merchandisers said this week.
CBOT December corn was down 4-1/4 cents at $4.56-1/4 per bushel in midday trading, hovering near a three-month low set on Wednesday, while November soybean futures were up 4-3/4 cents at $12.57-3/4 a bushel, rallying from a near two-month low set this week. GRA/
Basis values are quoted against CBOT futures in cts/bu:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | -21 | + | Z | UP 1 | -12 | + | X | UNC | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | UNQ | UNC | |||||
DES MOINES IA | UNQ | UNC | UNQ | UNC | |||||
LINCOLN NE | -35 | + | Z | UNC | -55 | + | X | UNC | |
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | -5 | + | Z | UNC | +5 | + | X | UNC | |
DECATUR IN | -15 | + | X | UNC | |||||
MORRISTOWN IN | -30 | + | X | UP 5 | |||||
LAFAYETTE IN | +5 | + | X | UNC | |||||
CEDAR RAPIDS IA | -23 | + | Z | UNC | -60 | + | X | UNC | |
COUNCIL BLUFFS IA | -50 | + | X | UNC | |||||
LINCOLN NE | -40 | + | X | UNC | |||||
BLAIR NE | -25 | + | Z | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -15 | + | Z | UNC | -35 | + | X | DN 5 | |
SENECA IL | -29 | + | Z | UP 1 | -17 | + | X | UP 16 | |
SAVANNA IL | -43 | + | Z | UNC | -71 | + | X | UNC | |
DAVENPORT IA | -45 | + | Z | UP 5 | -40 | + | X | UP 9 | |
ETHANOL PLANTS | |||||||||
LINDEN IN | -20 | + | Z | UNC | |||||
UNION CITY IN | -10 | + | Z | UNC | |||||
ANNAWAN IL | -3 | + | Z | UP 4 | |||||
COUNCIL BLUFFS IA | -25 | + | Z | UP 5 | |||||
SRW WHEAT | |||||||||
TOLEDO OH | -22 | + | Z | UNC | |||||
CINCINNATI OH | UNQ | Z | UNC | ||||||
DECATUR IN | -35 | + | N | UNC | |||||
BURNS HARBOR IN | UNQ | UNC |
NOTE: 0 = Option price, UNC = Unchanged, UNQ = Unquoted
NC = Not comparable, DP = Delayed price, N/A = Not available,
F = January, H = March, K = May, N = July, Q = August, U = September, X = November, Z = December
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LINKS:
For US forward basis spreadsheets, please click:
- CBOT corn report COR/
- CBOT soybean report SOY/C
- CBOT wheat report WHE/C
- US grain barge freight values BG/US
- US Midwest cash grain PM GRA/PM
- US CIF/FOB Gulf Grain GRA/F