US Cash Grains-Soy, corn basis mostly steady-weak as harvest expands

Reuters

US Cash Grains-Soy, corn basis mostly steady-weak as harvest expands

2024 9월 17, 오후 10:32 GMT

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CHICAGO, Sept 17 (Reuters) -Basis bids for soybeans and corn were mostly steady to weaker in the U.S. Midwest on Tuesday as the harvest of both crops started ramping up in many areas, aided by warm and generally dry weather, dealers said.

* The soybean basis fell by 10 cents a bushel at soy crushing facilities in Lafayette, Indiana, and Sioux City, Iowa.

* The corn basis fell by 10 cents at a Chicago-area processing plant.

* However, tight grain supplies supported basis bids in areas where the harvest had yet to begin. A Toledo, Ohio, terminal elevator was offering a 10-cent premium for prompt deliveries of corn and soybeans.

* The Toledo location was bidding 45 cents under Chicago Board of Trade December CZ24 corn futures for corn delivered by Sept. 27, and 55 cents under futures for later deliveries. For soybeans, the site was bidding 55 cents under CBOT November SX24 soybean futures for deliveries by the 27th, and 65 cents under futures after that date.

* The U.S. corn harvest was 9% complete and the soybean harvest was 6% complete as of Sunday, USDA's latest weekly crop progress report showed.

* At the CBOT, corn Cv1 and soybean Sv1 futures inched higher on Tuesday in range-bound trade as market players awaited more reports from the field as the U.S. harvest expands. GRA/

Basis values are quoted against CBOT futures in cents/bu:

	Current			Previous
ELEVATORS	Bid			Bid
Chicago, Illinois
Corn processors	+0	+	Z	+10	+	Z	DN 10
Corn elevators	-25	+	Z	-25	+	Z	UNC
Soybean elevators	-30	+	X	-30	+	X	UNC
Wheat elevators	-15	+	Z	-15	+	Z	UNC
Wheat processors	-25	+	Z	-25	+	Z	UNC
Decatur IL corn	-18	+	Z	-18	+	Z	UNC
Decatur IL soybeans	-20	+	X	-20	+	X	UNC
Burns Harbor IN corn	UNQ			UNQ			UNC
Burns Harbor IN soy	UNQ			UNQ			UNC
Lafayette IN soy	-45	+	X	-35	+	X	DN 10
Toledo OH (port)
Corn	-45	+	Z	-55	+	Z	UP 10
Soy	-55	+	X	-65	+	X	UP 10
SRW wheat	-20	+	H	-20	+	Z	NC
Davenport IA (river)
Corn	-25	+	Z	-25	+	Z	UNC
Soy	-62	+	X	-62	+	X	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	-20	+	Z	UNQ		Z	NC
Morris IL (river)
Corn	-40	+	Z	-40	+	Z	UNC
Soybeans	-40	+	X	-40	+	X	UNC
Fort Worth TX corn	+135	+	Z	+135	+	Z	UNC
Blair NE corn	+10	+	Z	+10	+	Z	UNC
Council Bluffs, IA (elevator)
Corn	-8	+	Z	-8	+	Z	UNC
Soy	-30	+	X	-30	+	X	UNC
Des Moines IA soy	-40	+	X	-40	+	X	UNC
Sioux City IA soy	+0	+	X	+10	+	X	DN 10

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-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 Julie Ingwersen; Editing by Alan Barona

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US Cash Grains-Soy, corn basis mostly steady-weak as harvest expands

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