US Cash Grains-Corn, soy basis higher amid quiet trading
CHICAGO, Nov 6 (Reuters) - Basis bids for soybeans and corn turned higher in the US Midwest on Friday as buyers raised basis bids in an effort to lure selling from farmers reluctant to sell.
Analysts expect the agency to 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 US Department of Agriculture (USDA) to increase its estimate of US soybean production to 4.597 billion bushels from 4.562 billion in October, a record harvest, next week
The USDA said on Monday the US soybean harvest was 88% complete and corn-harvesting 74% complete; the department expects the largest-ever soybean crop and the second-largest corn crop on record
Soybeans and corn futures were nearly unchanged, torn between gains in oil prices supporting agricultural goods and expectations of ample global supplies
CBOT corn was last 1 cent lower at $4.39 a bushel, while soybeans fell 3 cents to $11.85 a bushel
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | -14 | + | Z | DN 3 | -5 | + | F | UNC | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | UNQ | UNC | |||||
DES MOINES IA | UNQ | UNC | UNQ | UNC | |||||
LINCOLN NE | -40 | + | Z | UP 5 | -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 | -14 | + | Z | UP 4 | -20 | + | F | UNC | |
COUNCIL BLUFFS IA | -40 | + | F | UNC | |||||
LINCOLN NE | -8 | + | F | UNC | |||||
BLAIR NE | -15 | + | Z | UP 3 | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -10 | + | Z | UNC | -48 | + | F | UNC | |
SENECA IL | -16 | + | Z | UP 1 | -10 | + | F | UNC | |
SAVANNA IL | -36 | + | Z | UNC | -76 | + | F | UNC | |
DAVENPORT IA | -25 | + | Z | UP 8 | -30 | + | F | UNC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | +5 | + | Z | UNC | |||||
UNION CITY IN | -17 | + | Z | UNC | |||||
ANNAWAN IL | +0 | + | Z | UNC | |||||
COUNCIL BLUFFS IA | -20 | + | Z | UNC | |||||
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
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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