US Cash Grains-Corn, soybean basis mixed as CBOT futures plummet
CHICAGO, July 8 (Reuters) -Spot basis bids for corn and soybeans were mixed at elevators and processing sites in the Midwest on Monday as Chicago Board of Trade futures turned sharply lower, chilling farmer grain sales, prior to the release of crop progress data by the U.S. Department of Agriculture.
* The corn basis firmed by 5 cents at an elevator in Chicago, Illinois, and by 3 cents at a Decatur, Illinois, corn processing facility.
* However, the basis fell by 10 cents at Blair, Nebraska, site of another corn processor.
* For soybeans, the basis strengthened by 10 cents at a processor in Lafayette, Indiana, but fell by 5 cents at a crushing facility in Decatur, Illinois.
* CBOT September corn CU24 settled down 17-1/4 cents at $3.93-1/4 per bushel after dipping to a contract low of $3.91-1/4. CBOT August soybeans SQ24 settled down 17-1/4 cents at $11.49 a bushel.
* After the CBOT close, the U.S. Department of Agriculture rated 68% of the U.S. soybean and corn crops in good to excellent condition, each up onepercentage point from the previous week. Analysts surveyed by Reuters on average had expected no change in ratings.
Basis values are quoted against CBOT futures in ts/bu:
Current | Previous | |||||||
ELEVATORS | Bid | Bid | ||||||
Chicago, Illinois | ||||||||
Corn processors | +16 | + | U | +16 | + | U | UNC | |
Corn elevators | +10 | + | U | +5 | + | U | UP 5 | |
Soybean elevators | -10 | + | Q | -10 | + | Q | UNC | |
Wheat elevators | -20 | + | U | -20 | + | U | UNC | |
Wheat processors | -20 | + | U | -25 | + | U | UP 5 | |
Decatur IL corn | +15 | + | U | +12 | + | U | UP 3 | |
Decatur IL soybeans | +45 | + | Q | +50 | + | Q | DN 5 | |
Burns Harbor IN corn | UNQ | UNQ | UNC | |||||
Burns Harbor IN soy | UNQ | UNQ | UNC | |||||
Lafayette IN soy | +35 | + | Q | +25 | + | Q | UP 10 | |
Toledo OH (port) | ||||||||
Corn | -34 | + | U | -34 | + | U | UNC | |
Soy | -10 | + | Q | -10 | + | Q | UNC | |
SRW wheat | -35 | + | U | -35 | + | U | UNC | |
Davenport IA (river) | ||||||||
Corn | -12 | + | U | -12 | + | U | UNC | |
Soy | -5 | + | Q | -5 | + | Q | UNC | |
Evansville IN (rail) | s | |||||||
15-car CSX corn | UNQ | -5 | + | N | NC | |||
Cincinnati OH (rail) | ||||||||
3-car corn | UNQ | UNQ | UNC | |||||
Hereford TX corn | +124 | + | U | +124 | + | U | UNC | |
Columbus OH (rail) | ||||||||
3-car corn | UNQ | -20 | + | N | NC | |||
Morris IL (river) | ||||||||
Corn | +2 | + | U | +2 | + | U | UNC | |
Soybeans | +26 | + | Q | +26 | + | Q | UNC | |
Fort Worth TX corn | +124 | + | U | +124 | + | U | UNC | |
Blair NE corn | +40 | + | U | +50 | + | U | DN 10 | |
Council Bluffs, IA (elevator) | ||||||||
Corn | +28 | + | U | +28 | + | U | UNC | |
Soy | -10 | + | Q | -10 | + | Q | UNC | |
Des Moines IA soy | +15 | + | Q | +15 | + | Q | UNC | |
Sioux City IA soy | -15 | + | Q | -15 | + | Q | UNC |
Basis values are quoted against CBOT futures in cents/bu:
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 Renee Hickman; Editing by Josie Kao
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