US Cash Grains-Corn and soy basis bids fall as farmers sell
CHICAGO, Aug 6 (Reuters) -Spot basis bids for corn and soybeans in the U.S. Midwest fell on Tuesday as farmers sold large quantities of old crop corn and soy to make room for the upcoming harvest while losing hope that futures will rise above the near four-year lows they are hovering at.
* Low global oilseed demand weighed on soybean prices while corn weakened as the dollar gained strength.
* The corn basis decreased at a river terminal and processor.
* The soy basis decreased at two processors, a port and a river terminal.
* Most-active December CZ24 corn ended down 1-3/4 cents at $4.05-1/4 per bushel.
* Most-active November soybeans SX24 settled up 13-1/2 cents at $10.40-3/4 per bushel.
* Traders are shifting attention to the USDA's monthly supply and demand report, to be released Aug. 12.
Basis values are quoted against CBOT futures in cents/bu:
Current | Previous | |||||||
ELEVATORS | Bid | Bid | ||||||
Chicago, Illinois | ||||||||
Corn processors | +14 | + | U | +14 | + | U | UNC | |
Corn elevators | -10 | + | U | -10 | + | U | UNC | |
Soybean elevators | +0 | + | U | +0 | + | U | UNC | |
Wheat elevators | -5 | + | U | -5 | + | U | UNC | |
Wheat processors | -10 | + | U | -10 | + | U | UNC | |
Decatur IL corn | +15 | + | U | +15 | + | U | UNC | |
Decatur IL soybeans | +30 | + | X | +40 | + | X | DN 10 | |
Burns Harbor IN corn | UNQ | UNQ | UNC | |||||
Burns Harbor IN soy | UNQ | UNQ | UNC | |||||
Lafayette IN soy | +55 | + | X | +55 | + | X | UNC | |
Toledo OH (port) | ||||||||
Corn | -30 | + | U | -30 | + | U | UNC | |
Soy | +10 | + | X | +25 | + | X | DN 15 | |
SRW wheat | -35 | + | U | -35 | + | U | UNC | |
Davenport IA (river) | ||||||||
Corn | -12 | + | U | -12 | + | U | UNC | |
Soy | -12 | + | Q | -9 | + | Q | DN 3 | |
Evansville IN (rail) | ||||||||
15-car CSX corn | -2 | + | U | -2 | + | U | UNC | |
Cincinnati OH (rail) | ||||||||
3-car corn | UNQ | UNQ | UNC | |||||
Hereford TX corn | +140 | + | U | +140 | + | U | UNC | |
Columbus OH (rail) | ||||||||
3-car corn | -9 | + | U | -9 | + | U | UNC | |
Morris IL (river) | ||||||||
Corn | +0 | + | U | +1 | + | U | DN 1 | |
Soybeans | +15 | + | Q | +15 | + | Q | UNC | |
Fort Worth TX corn | +140 | + | U | +140 | + | U | UNC | |
Blair NE corn | +27 | + | U | +30 | + | U | DN 3 | |
Council Bluffs, IA (elevator) | ||||||||
Corn | +20 | + | U | +20 | + | U | UNC | |
Soy | -5 | + | X | -5 | + | X | UNC | |
Des Moines IA soy | +20 | + | X | +30 | + | X | DN 10 | |
Sioux City IA soy | +0 | + | X | +0 | + | X | 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 Jonathan Oatis
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