US Cash Grains-Soy basis steady-stronger, harvest virtually finished
Soybean basis improves by 3 to 10 cents at crushing facilities
Corn basis mixed at Midwest ethanol sites
CBOT soybean futures fall on concern over biofuel stance of Trump's EPA nominee
CHICAGO, Nov 12 (Reuters) -Spot basis bids for corn and soybeans were mostly steady to stronger in the U.S. Midwest on Tuesday as the harvest of both crops was nearly complete and farmer grain offerings slowed, brokers said.
* The soybean basis improved by 3 to 10 cents a bushel at crushing facilities, even as a 4% plunge in Chicago Board of Trade soyoil futures BOZ24 on Tuesday cut into crushers' profit margins.
* For corn, the basis firmed by 4 cents a bushel at a Cincinnati, Ohio, elevator. But the basis was mixed at Midwest ethanol sites, rising by 4 cents at Union City, Indiana ethanol plant while falling by 2 cents at a facility in Annawan, Illinois.
* Ahead of the U.S. Department of Agriculture's weekly crop progress report, delayed a day due to a federal holiday on Monday, analysts surveyed by Reuters on average expected the government to report the soybean harvest as 97% complete and the corn harvest as 95% complete.
* Analysts on average rated 44% of the winter wheat crop in good to excellent condition, up from the USDA's 41% last week, after storms helped recharge soil moisture in the drought-hit Plains wheat belt.
* On the CBOT, soybean futures Sv1 sagged as soyoil 0#BO: tumbled on worries that President-elect Donald Trump's nominee for the head of the U.S. Environmental Protection Agency would take a less friendly view of the biofuel industry, analysts said. GRA/
* CBOT wheat futures Wv1 fell as the dollar strengthened, making U.S. grains less competitive globally, and corn Cv1 followed the weak trend.
Basis values are quoted against CBOT futures in cts/bu:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | +4 | + | Z | UP 4 | +5 | + | F | UP 13 | |
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 | +0 | + | Z | UNC | +5 | + | F | UNC | |
DECATUR IN | -2 | + | F | UP 3 | |||||
MORRISTOWN IN | -5 | + | F | UNC | |||||
LAFAYETTE IN | +0 | + | F | UNC | |||||
CEDAR RAPIDS IA | -5 | + | Z | UNC | -25 | + | F | UNC | |
COUNCIL BLUFFS IA | -15 | + | F | UP 10 | |||||
LINCOLN NE | -20 | + | F | UNC | |||||
BLAIR NE | +0 | + | Z | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -18 | + | Z | UNC | -35 | + | F | UNC | |
SENECA IL | -2 | + | Z | UNC | -3 | + | F | UNC | |
SAVANNA IL | -36 | + | Z | UNC | -61 | + | F | UNC | |
DAVENPORT IA | -13 | + | Z | UP 2 | -17 | + | F | UNC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | -20 | + | Z | UNC | |||||
UNION CITY IN | +10 | + | Z | UP 4 | |||||
ANNAWAN IL | -6 | + | Z | DN 2 | |||||
COUNCIL BLUFFS IA | -15 | + | Z | UNC | |||||
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
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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 Julie Ingwersen; Editing by Paul Simao
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