US Cash Grains-Corn, soy steady to up as futures move down
CHICAGO, Nov 9 (Reuters) - Basis bids for soybeans and corn edged higher in a spot check of locations in the US Midwest on Monday as futures dipped and dealers tried to entice farmers to sell.
Corn and soybean basis bids rose at a processor in Decatur, Illinois, an elevator in Cincinnati, Ohio and a river terminal in Seneca, Illinois.
Corn basis bids rose at ethanol plants in Union City, Indiana and Annawan, Illinois.
Analysts expect that the US Department of Agriculture, in its monthly supply and demand report on Tuesday, will peg corn production at 15.962 billion bushels, down from its October estimate of 16.034 billion, according to a Reuters poll.
The harvest would be the second-largest in history, after last year's record crop.
Analysts expect the USDA to increase its estimate of US soybean production to 4.597 billion bushels from 4.562 billion in October, a record harvest.
CBOT corn settled 2-1/4 cents lower at $4.39-1/4 a bushel, while soybeans fell 6-3/4 cents to end at $11.82-1/4 a bushel
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | -9 | + | Z | UP 5 | -2 | + | F | UP 3 | |
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 | UP 5 | +8 | + | X | UP 2 | |
DECATUR IN | -10 | + | X | UNC | |||||
MORRISTOWN IN | -20 | + | X | UNC | |||||
LAFAYETTE IN | +5 | + | X | UNC | |||||
CEDAR RAPIDS IA | -12 | + | Z | UP 2 | -20 | + | F | UNC | |
COUNCIL BLUFFS IA | -40 | + | F | UNC | |||||
LINCOLN NE | -8 | + | F | UNC | |||||
BLAIR NE | -15 | + | Z | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -3 | + | Z | UP 7 | -48 | + | F | UNC | |
SENECA IL | -14 | + | Z | UP 2 | -4 | + | F | UP 6 | |
SAVANNA IL | -36 | + | Z | UNC | -76 | + | F | UNC | |
DAVENPORT IA | -25 | + | Z | UNC | -25 | + | F | UP 5 | |
ETHANOL PLANTS | |||||||||
LINDEN IN | +5 | + | Z | UNC | |||||
UNION CITY IN | -15 | + | Z | UP 2 | |||||
ANNAWAN IL | +5 | + | Z | UP 5 | |||||
COUNCIL BLUFFS IA | -20 | + | Z | UNC | |||||
SRW WHEAT | |||||||||
TOLEDO OH | -22 | + | Z | UNC | |||||
CINCINNATI OH | UNQ | Z | UNC | ||||||
DECATUR IN | -38 | + | N | DN 3 | |||||
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