US Cash Grains-Soybean bids steady to up as harvest moves forward

By Reuters News

- Basis bids for soybeans were steady to higher at processing sites on Friday, spot checks showed, as farmers pushed forward with autumn harvests.

  • Processors raised their bids by 10 cents a bushel each in Decatur, Illinois, and Lafayette, Indiana.

  • A processor in Blair, Nebraska, raised its corn basis by 10 cents.

  • Traders and farmers continued to assess the quality of recently harvested soybeans, as some have shown signs of discoloration due to wet weather before harvests began.

  • US soybean futures dropped to a seven-week low while corn futures neared a two-month low as dry Midwest weather expected over the coming week was likely to fuel rapid harvesting progress.

  • The US Department of Agriculture is slated to release an update on corn and soybean harvesting progress in a weekly report on Monday.

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


Current




Previous




Bid




Bid




Chicago, Illinois









Corn processors

+0

+

Z


+0

+

Z

UNC

Corn elevators

-5

+

Z


+0

+

Z

DN 5

Soybean elevators

-20

+

X


-20

+

X

UNC

Wheat elevators

-20

+

X


-20

+

X

UNC

Wheat processors

+30

+

Z


+10

+

Z

UP 20

Decatur IL corn

-5

+

Z


-5

+

Z

UNC

Decatur IL soybeans

+10

+

X


+0

+

X

UP 10

Burns Harbor IN corn

UNQ




UNQ



UNC

Burns Harbor IN soy

UNQ




UNQ



UNC

Lafayette IN soy

-15

+

X


-25

+

X

UP 10

Toledo OH (port)









Corn

-20

+

Z


-20

+

Z

UNC

Soy

-30

+

X


-30

+

X

UNC

SRW wheat

-30

+

Z


-30

+

Z

UNC

Davenport IA (river)









Corn

-60

+

Z


-60

+

Z

UNC

Soy

-60

+

X


-60

+

X

UNC

Evansville IN (rail)









15-car CSX corn

-14

+

Z


-14

+

Z

UNC

Cincinnati OH (rail)









3-car corn

UNQ




UNQ



UNC

Hereford TX corn

+120

+

Z


+120

+

Z

UNC

Columbus OH (rail)









3-car corn

-14

+

Z


-14

+

Z

UNC

Morris IL (river)









Corn

-36

+

Z


-36

+

Z

UNC

Soybeans

-30

+

X


-30

+

X

UNC

Fort Worth TX corn

+120

+

Z


+120

+

Z

UNC

Blair NE corn

+0

+

Z


-10

+

Z

UP 10

Council Bluffs, IA (elevator)









Corn

-27

+

Z

-27

+

Z

UNC

Soy

-65

+

X


-65

+

X

UNC

Des Moines IA soy

-40

+

X


-40

+

X

UNC

Sioux City IA soy

-45

+

X


-45

+

X

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

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

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

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