US Cash Grains-Soybean basis mixed, corn bids steady to lower
CHICAGO, Aug 19 (Reuters) -Spot basis bids for soybeans were mostly steady to higher at processors around the U.S. Midwest on Monday and steady to lower at river elevators following an increase in farmer sales of old-crop supplies last week.
* Spot corn basis bids at most locations were steady to lower on light demand and higher futures prices.
* Futures prices firmed on Monday morning after hitting their lowest levels since 2020 last week. Some farmers have been liquidating old-crop supplies as the next harvest is looming and forecasts call for bumper crops.
* Market participants are monitoring this week's annual Pro Farmer crop tour to confirm large U.S. corn and soy yield potential that is bearish for prices. Five of the seven tour states are projected to set or tie record corn yields, including Illinois, Iowa and Indiana, which account for 39% of total corn production.
Basis values are quoted against CBOT futures in cts/bushel:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | -21 | + | U | DN 5 | -24 | + | X | NC | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | |||||||
DES MOINES IA | UNQ | UNC | |||||||
LINCOLN NE | +0 | + | U | UNC | |||||
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | -15 | + | Z | DN 5 | +30 | + | X | UNC | |
DECATUR IN | +5 | + | X | UNC | |||||
MORRISTOWN IN | +20 | + | X | UNC | |||||
LAFAYETTE IN | +30 | + | X | UNC | |||||
CEDAR RAPIDS IA | +15 | + | U | UP 7 | +10 | + | X | UNC | |
COUNCIL BLUFFS IA | +0 | + | X | UNC | |||||
LINCOLN NE | +10 | + | X | UP 20 | |||||
BLAIR NE | +15 | + | U | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -40 | + | U | UNC | -20 | + | X | UNC | |
SENECA IL | -10 | + | U | UNC | -5 | + | X | DN 20 | |
SAVANNA IL | -18 | + | U | UNC | -46 | + | X | DN 9 | |
DAVENPORT IA | -16 | + | U | UNC | -14 | + | X | UNC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | -12 | + | U | DN 2 | |||||
UNION CITY IN | -25 | + | U | UNC | |||||
ANNAWAN IL | -4 | + | U | UNC | |||||
COUNCIL BLUFFS IA | +10 | + | U | DN 2 | |||||
SRW WHEAT | |||||||||
TOLEDO OH | -35 | + | U | UNC | |||||
CINCINNATI OH | UNQ | UNC | |||||||
DECATUR IN | UNQ | NC | |||||||
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 Karl Plume; Editing by Mohammed Safi Shamsi
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