US Cash Grains-Soy, corn basis continue to rise as futures fall
CHICAGO, Nov 21 (Reuters) -Spot basis bids for corn and soybeans rose again in the U.S. Midwest on Wednesday following multiple days of consecutive increases.
* The soybean basis ticked up at an Iowa processor.
* The corn basis increased at an Iowa processor, Indiana ethanol plant and Iowa ethanol plant.
* Corn and soybean futures have slid as bumper crop prospects in Brazil and a stronger dollar weighed on futures.
* The USDA reported net export sales of U.S. corn at 1,494,600 tons, on the low end of analyst expectations from 1,000,000 to 2,200,000 tons.
* The USDA reported net export sales of U.S. soybeans at 1,860,600 tons, above analyst expectations of 1,000,000 to 1,600,000 tons.
* U.S. exporters sold 133,000 tons of soybean meal to the Philippines, 135,000 tons of soybeans to unknown destinations and 198,000 tons of soybeans to China for 2024/25 delivery, the USDA reported.
* CBOT soybeans Sv1 were last down 11-3/4 cents at $9.78-3/4 per bushel, while CBOT corn Cv1 was last down 3-1/4 cents at $4.27 per bushel.
Basis values are quoted against CBOT futures in cts/bu:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | +9 | + | Z | UNC | +14 | + | F | UNC | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | |||||||
DES MOINES IA | UNQ | UNC | |||||||
LINCOLN NE | -20 | + | Z | UNC | |||||
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | +10 | + | Z | UNC | +5 | + | F | UNC | |
DECATUR IN | +0 | + | F | UNC | |||||
MORRISTOWN IN | +10 | + | F | UNC | |||||
LAFAYETTE IN | +0 | + | F | UNC | |||||
CEDAR RAPIDS IA | +5 | + | Z | UP 10 | -5 | + | F | UP 10 | |
COUNCIL BLUFFS IA | -15 | + | F | UNC | |||||
LINCOLN NE | -10 | + | F | UNC | |||||
BLAIR NE | +10 | + | Z | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -18 | + | Z | UNC | -35 | + | F | UNC | |
SENECA IL | -1 | + | Z | UNC | +3 | + | F | UNC | |
SAVANNA IL | -30 | + | Z | UNC | -51 | + | F | UNC | |
DAVENPORT IA | -12 | + | Z | UNC | -8 | + | F | UNC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | -5 | + | Z | UP 10 | |||||
UNION CITY IN | +15 | + | Z | UNC | |||||
ANNAWAN IL | -2 | + | Z | UNC | |||||
COUNCIL BLUFFS IA | -8 | + | Z | UP 2 | |||||
SRW WHEAT | |||||||||
TOLEDO OH | -20 | + | H | UNC | |||||
CINCINNATI OH | UNQ | UNC | |||||||
DECATUR IN | -50 | + | N | UNC | |||||
BURNS HARBOR IN | UNQ | 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: 0#USCSHGRN-PM
For U.S. forward basis spreadsheets, please click:
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 PM GRA/PM
- U.S. CIF/FOB Gulf Grain GRA/F
Reporting by Heather Schlitz; Editing by Tasim Zahid
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
