US Cash Grains-Corn bids fall, soy steady as farmers sell
Dec 11 (Reuters) -Basis bids for U.S. corn were lower and bids for soy were steady in the U.S. Midwest on Wednesday as farmers sold their crop before the year's end and buyers remained reluctant to raise bids amid tight profit margins.
* The corn basis decreased at two Illinois elevators.
* Soy basis bids were steady.
* Chicago corn futures hit fresh 5-1/2 month highs on Wednesday on follow-through buying after the U.S. Department of Agriculture said on Tuesday that U.S. end-of-season stocks would drop to a two-year low.
* The USDA also raised its estimate for 2024-25 corn exports to 2.475 billion bushels, compared with its November estimate for 2.325 billion bushels.
* The USDA reported 2024-25 U.S. ending stocks of soybeans at 470 million bushels, unchanged from November and in line with trade expectations.
* CBOT March corn CH25 ended 3/4 cent lower at $4.48-1/4 a bushel.
* CBOT January soybeans SF25 ended down 3/4 cent at $9.95-1/2 a bushel.
Basis values are quoted against CBOT futures in cents/bu:
Current | Previous | |||||||
ELEVATORS | Bid | Bid | ||||||
Chicago, Illinois | ||||||||
Corn processors | +0 | + | H | +2 | + | H | DN 2 | |
Corn elevators | -5 | + | Z | -5 | + | Z | UNC | |
Soybean elevators | +0 | + | F | +0 | + | F | UNC | |
Wheat elevators | +5 | + | H | +5 | + | H | UNC | |
Wheat processors | +10 | + | H | +10 | + | H | UNC | |
Decatur IL corn | +2 | + | H | +8 | + | H | DN 6 | |
Decatur IL soybeans | +5 | + | F | +5 | + | F | 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 | -20 | + | H | -20 | + | H | UNC | |
Soy | -20 | + | F | -20 | + | F | UNC | |
SRW wheat | -35 | + | H | -35 | + | H | UNC | |
Davenport IA (river) | ||||||||
Corn | -15 | + | H | -15 | + | H | UNC | |
Soy | -8 | + | F | -8 | + | F | UNC | |
Evansville IN (rail) | ||||||||
15-car CSX corn | UNQ | UNQ | UNC | |||||
Cincinnati OH (rail) | ||||||||
3-car corn | UNQ | UNQ | UNC | |||||
Hereford TX corn | +135 | + | Z | +135 | + | Z | UNC | |
Columbus OH (rail) | ||||||||
3-car corn | UNQ | Z | UNQ | Z | UNC | |||
Morris IL (river) | ||||||||
Corn | -7 | + | H | -7 | + | H | UNC | |
Soybeans | +5 | + | F | +5 | + | F | UNC | |
Fort Worth TX corn | +135 | + | Z | +135 | + | Z | UNC | |
Blair NE corn | -5 | + | H | -5 | + | H | UNC | |
Council Bluffs, IA (elevator) | ||||||||
Corn | -8 | + | H | -8 | + | H | UNC | |
Soy | -28 | + | F | -28 | + | F | UNC | |
Des Moines IA soy | -15 | + | F | -15 | + | F | UNC | |
Sioux City IA soy | -10 | + | F | -10 | + | 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: 0#USCSHGRN-AM
For U.S. forward basis spreadsheets, please click on:
CORN/BASIS, SOYA/BASIS, WHEAT/BASIS, MILO/BASIS
- CBOT corn report COR/
- CBOT soybean report SOY/C
- CBOT wheat report WHE/C
- U.S. grain barge freight values BG/US
- U.S. Midwest cash grain AM GRA/M
- U.S. CIF/FOB Gulf Grain GRA/F
Reporting by Heather Schlitz; Editing by Will Dunham
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