US Cash Grains-Corn basis strengthens at multiple locations; soy basis bids roll to January futures
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CHICAGO, Nov 4 (Reuters) -Basis bids for corn and soybeans strengthened at several U.S. Midwest processing sites and river elevators on Monday as the harvest wound down.
* The corn basis improved by 6 cents at an elevator in Cinncinati, Ohio, 5 cents at a processor in Cedar Rapids, Iowa, 15 cents at an ethanol plant in Annawan, Illinois and 10 cents at a river terminal in Savanna, Illinois.
* The soybean basis rose by 3 cents at the elevator in Cincinnati.
* A river elevator in Savanna, Illinois left its soybean basis unchanged on the roll to the Chicago Board of Trade January SF25 futures contract, in effect raising the flat price, given that January futures are trading at a premium of roughly 13 cents to the November contract, which expires on Nov. 14.
* Barge freight costs - the cost of empty barges - fell last week, allowing Midwest river elevators to pay more to farmers because they do not have to pay as much for empty barges.
* On the Chicago Board of Trade at 11, December corn CZ24 was up 2-3/4 cents at $4.17-1/4 a bushel while January soybeans SF25 were up 1-3/4 cents at $9.95-1/2 a bushel. GRA/
Basis values are quoted against CBOT futures in cts/bushel:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | -18 | + | Z | UP 6 | -20 | + | X | UP 3 | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | |||||||
DES MOINES IA | UNQ | UNC | |||||||
LINCOLN NE | -25 | + | Z | UNC | |||||
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | -10 | + | Z | UNC | +5 | + | F | UNC | |
DECATUR IN | -15 | + | F | UNC | |||||
MORRISTOWN IN | -15 | + | F | UNC | |||||
LAFAYETTE IN | -10 | + | F | UNC | |||||
CEDAR RAPIDS IA | -10 | + | Z | UP 5 | -25 | + | F | UNC | |
COUNCIL BLUFFS IA | -35 | + | F | UNC | |||||
LINCOLN NE | -20 | + | F | UNC | |||||
BLAIR NE | -5 | + | Z | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -30 | + | Z | UNC | -40 | + | F | UNC | |
SENECA IL | -14 | + | Z | UNC | -6 | + | F | UNC | |
SAVANNA IL | -36 | + | Z | UP 10 | -61 | + | F | NC | |
DAVENPORT IA | -25 | + | Z | UNC | -22 | + | F | UNC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | -20 | + | Z | UNC | |||||
UNION CITY IN | -5 | + | Z | UNC | |||||
ANNAWAN IL | -10 | + | Z | UP 15 | |||||
COUNCIL BLUFFS IA | -24 | + | 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 Renee Hickman; Editing by Will Dunham
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