US Cash Grains-Soybean basis bids fall, US projects record harvest
CHICAGO, Aug 12 (Reuters) -Spot basis bids for soybeans dropped in the U.S. Midwest on Monday as farmers sold more of their old-crop supplies ahead of the upcoming harvest, analysts said.
* The soybean basis slid by 20 cents a bushel at a processor in Morristown, Indiana. Basis fell by 10 cents each at a processor in Lafayette, Indiana, and a river terminal in Toledo, Ohio.
* The corn basis was steady to lower at river terminals and grain elevators and mixed at Midwestern ethanol plants.
* The U.S. Department of Agriculture in a monthly report projected farmers will harvest a record U.S. soybean crop, sending futures prices to 2020 lows. The USDA also raised its outlook for corn production from July. GRA/
* U.S. soybean yields are expected to average a record high 53.2 bushels per acre, the USDA said. If realized, estimated yields would set records in states including Illinois, Indiana and Ohio.
* Average U.S. corn yields are forecast at an all-time high 183.1 bushels per acre, the USDA said, with records projected in key farm states including Illinois, Indiana and Iowa.
Basis values are quoted against CBOT futures in cts/bushel:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | -13 | + | U | DN 1 | -13 | + | X | DN 1 | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | |||||||
DES MOINES IA | UNQ | UNC | |||||||
LINCOLN NE | +10 | + | U | UNC | |||||
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | -1 | + | Z | UNC | +30 | + | X | UNC | |
DECATUR IN | +10 | + | X | UNC | |||||
MORRISTOWN IN | +20 | + | X | DN 20 | |||||
LAFAYETTE IN | +30 | + | X | DN 10 | |||||
CEDAR RAPIDS IA | +0 | + | U | UNC | +10 | + | X | UNC | |
COUNCIL BLUFFS IA | +5 | + | X | UNC | |||||
LINCOLN NE | -10 | + | X | UNC | |||||
BLAIR NE | +18 | + | U | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -40 | + | U | UNC | -15 | + | X | DN 10 | |
SENECA IL | -5 | + | U | DN 1 | +20 | + | Q | UNC | |
SAVANNA IL | -13 | + | U | UNC | -15 | + | Q | UNC | |
DAVENPORT IA | -16 | + | U | UNC | -14 | + | X | UNC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | -10 | + | U | UNC | |||||
UNION CITY IN | -19 | + | U | UNC | |||||
ANNAWAN IL | +0 | + | U | UP 3 | |||||
COUNCIL BLUFFS IA | +15 | + | U | DN 1 | |||||
SRW WHEAT | |||||||||
TOLEDO OH | -35 | + | U | UNC | |||||
CINCINNATI OH | UNQ | UNC | |||||||
DECATUR IN | -65 | + | U | UNC | |||||
BURNS HARBOR IN | UNQ | UNC |
NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted
NC = Not comparable, DPI = 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 Tom Polansek; Editing by Will Dunham
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