US Cash Grains-Corn, soy bids steady-higher in slow trade
CHICAGO, Nov 4 (Reuters) - Basis bids for corn and soybeans were steady to higher in the US Midwest on Wednesday as slow farmer selling led some buyers to raise basis bids.
Low prices and the remaining harvest have discouraged farmer selling.
With freshly harvested supplies coming in from farmers' fields, analysts said there were concerns over export demand that is lagging last year's pace.
The US Department of Agriculture said on Monday that soybean harvesting was 88% complete, ahead of the five-year average of 84%. Corn harvesting was 74% complete.
US exporters sold 167,000 metric tons of soybeans to Spain for 2026/2027 delivery, the USDA reported on Wednesday.
CBOT December corn ended 1-3/4 cents higher to $4.44-1/4 per bushel.
CBOT January soybeans ended 11-3/4 cents lower to $12.02-1/4 per bushel.
Basis values are quoted against CBOT futures in cents/bu:
Current | Previous | ||||||
Bid | Bid | ||||||
Chicago, Illinois | |||||||
Corn processors | +15 | + | Z | +15 | + | Z | UNC |
Corn elevators | +20 | + | Z | +20 | + | Z | UNC |
Soybean elevators | -10 | + | F | -10 | + | F | UNC |
Wheat elevators | -5 | + | X | -5 | + | X | UNC |
Wheat processors | +32 | + | Z | +32 | + | Z | UNC |
Decatur IL corn | +5 | + | Z | +0 | + | Z | UP 5 |
Decatur IL soybeans | +6 | + | X | +6 | + | X | UNC |
Burns Harbor IN corn | UNQ | UNQ | UNC | ||||
Burns Harbor IN soy | UNQ | UNQ | UNC | ||||
Lafayette IN soy | +5 | + | F | +5 | + | F | UNC |
Toledo OH (port) | |||||||
Corn | -15 | + | Z | -15 | + | Z | UNC |
Soy | -48 | + | F | -48 | + | F | UNC |
SRW wheat | -22 | + | Z | -22 | + | Z | UNC |
Davenport IA (river) | |||||||
Corn | -33 | + | Z | -33 | + | Z | UNC |
Soy | -33 | + | F | -33 | + | F | UNC |
Evansville IN (rail) | |||||||
15-car CSX corn | UNQ | UNQ | UNC | ||||
Cincinnati OH (rail) | |||||||
3-car corn | UNQ | UNQ | UNC | ||||
Hereford TX corn | +100 | + | Z | +100 | + | Z | UNC |
Columbus OH (rail) | |||||||
3-car corn | -16 | + | Z | -16 | + | Z | UNC |
Morris IL (river) | |||||||
Corn | -18 | + | Z | -18 | + | Z | UNC |
Soybeans | -10 | + | X | -10 | + | X | UNC |
Fort Worth TX corn | +100 | + | Z | +100 | + | Z | UNC |
Blair NE corn | -18 | + | Z | -18 | + | Z | UNC |
Council Bluffs, IA (elevator) | |||||||
Corn | -23 | + | Z | -25 | + | Z | UP 2 |
Soy | -97 | + | F | -100 | + | X | NC |
Des Moines IA soy | -30 | + | F | -35 | + | F | UP 5 |
Sioux City IA soy | -15 | + | F | -15 | + | F | 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 on:
- 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 AM GRA/M
- US CIF/FOB Gulf Grain GRA/F