US Cash Grains-Corn, soy mostly flat to higher
CHICAGO, Nov 11 (Reuters) - Basis bids for soybeans and corn were mostly steady to stronger at grain elevators, ethanol plants and river terminals in a spot check of locations in the US Midwest on Wednesday as dealers tried to entice farmers to sell amid strong margins for ethanol plants and processors, according to analysts.
Soybean basis bids rose at an elevator in Cincinnati, Ohio and a river terminal in Davenport, Iowa.
Corn basis bids ticked up at the Cincinnati elevator, a river terminal in Seneca, Illinois and an ethanol plant in Linden, Indiana.
In a USDA data release on Tuesday, the agency lowered its forecast of 2026/27 corn ending stocks to 1.758 billion bushels from 1.849 billion in October and below the average analyst estimate of 1.840 billion bushels.
For soybeans, the USDA raised its production estimate but lowered its forecast of stockpiles remaining at the end of the 2026/27 marketing year.
The US Department of Agriculture said exporters sold 312,700 metric tons of corn to Mexico for 2026/2027 delivery.
The agency said exporters sold 150,000 metric tons of soybeans to Mexico in the reporting period for 2026/2027 delivery.
Taiwan's MFIG purchasing group bought an estimated 65,000 metric tons of animal feed corn expected to be sourced from Brazil in an international tender on Wednesday, European traders said.
CBOT most-active soybeans last traded up 4 cents at $12.32 per bushel.
CBOT most-active corn futures last traded down 2-3/4 cents at $4.46-1/4 per bushel.
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | +0 | + | Z | UP 2 | +3 | + | F | UP 7 | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | UNQ | UNC | |||||
DES MOINES IA | UNQ | UNC | UNQ | UNC | |||||
LINCOLN NE | -40 | + | Z | UNC | -40 | + | X | UNC | |
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | +15 | + | Z | UNC | +8 | + | X | UNC | |
DECATUR IN | -10 | + | X | UNC | |||||
MORRISTOWN IN | -10 | + | X | UNC | |||||
LAFAYETTE IN | +5 | + | X | UNC | |||||
CEDAR RAPIDS IA | -5 | + | Z | UNC | -20 | + | F | UNC | |
COUNCIL BLUFFS IA | -40 | + | F | UNC | |||||
LINCOLN NE | -8 | + | F | UNC | |||||
BLAIR NE | -17 | + | Z | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | +0 | + | Z | UNC | -48 | + | F | UNC | |
SENECA IL | -12 | + | Z | UP 1 | -2 | + | F | UNC | |
SAVANNA IL | -36 | + | Z | UNC | -76 | + | F | UNC | |
DAVENPORT IA | -25 | + | Z | UNC | -20 | + | F | UP 2 | |
ETHANOL PLANTS | |||||||||
LINDEN IN | +10 | + | Z | UP 5 | |||||
UNION CITY IN | -15 | + | Z | UNC | |||||
ANNAWAN IL | +2 | + | Z | DN 3 | |||||
COUNCIL BLUFFS IA | -20 | + | Z | UNC | |||||
SRW WHEAT | |||||||||
TOLEDO OH | -22 | + | Z | UNC | |||||
CINCINNATI OH | -38 | + | Z | NC | |||||
DECATUR IN | -30 | + | N | UP 8 | |||||
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
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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