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US Cash Grains-Corn, soy basis higher amid little selling

By Reuters News

CHICAGO, Nov 5 (Reuters) - Basis bids for soybeans and corn were higher in the US Midwest on Thursday as low prices discouraged farmer selling.

  • Commodity brokerage StoneX raised its estimates for the US corn and soybean harvests on Tuesday; traders are awaiting updated US Department of Agriculture harvest estimates next week.

  • Rain has interrupted harvests in some parts of the US, slowing some cash sales of crops by farmers, according to traders.

  • The US Department of Agriculture said on Monday the US soybean harvest was 88% complete and corn harvesting 74% complete. The USDA expects the largest-ever soybean crop and the second-largest corn crop on record.

  • Corn and soybean futures gained after reaching multi-month lows in the previous session.

  • CBOT corn was last 2-1/4 cents lower to $4.42 a bushel, while soybeans fell 2-1/4 cents to $12.00 a bushel.

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

-11

+

Z

UNC

-5

+

F

UP 2

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

UNC

UNQ

UNC

DES MOINES IA

UNQ

UNC

UNQ

UNC

LINCOLN NE

-45

+

Z

UNC

-40

+

X

UNC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

+10

+

Z

UNC

+6

+

X

UNC

DECATUR IN

-10

+

X

UNC

MORRISTOWN IN

-20

+

X

UNC

LAFAYETTE IN

+5

+

X

UNC

CEDAR RAPIDS IA

-18

+

Z

UNC

-20

+

F

UNC

COUNCIL BLUFFS IA

-40

+

F

UP 5

LINCOLN NE

-8

+

F

UNC

BLAIR NE

-18

+

Z

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

-10

+

Z

UP 5

-48

+

F

UNC

SENECA IL

-17

+

Z

UP 1

-10

+

F

UNC

SAVANNA IL

-36

+

Z

UNC

-76

+

F

UNC

DAVENPORT IA

-33

+

Z

UNC

-30

+

F

UP 3

ETHANOL PLANTS

LINDEN IN

+5

+

Z

UNC

UNION CITY IN

-17

+

Z

UNC

ANNAWAN IL

+0

+

Z

UNC

COUNCIL BLUFFS IA

-20

+

Z

UP 2

SRW WHEAT

TOLEDO OH

-22

+

Z

UNC

CINCINNATI OH

UNQ

Z

UNC

DECATUR IN

-35

+

N

UNC

BURNS HARBOR IN

UNQ

UNC

Basis values are quoted against CBOT futures in cts/bu:

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

--------------------------------------------------------

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

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