US Cash Grains-Soybean basis steady-to-weaker; corn bids mixed
CHICAGO, July 22 (Reuters) -Spot basis bids for soybeans were steady-to-weaker in the U.S. Midwest on Monday as Chicago Board of Trade (CBOT) soy futures bounced, encouraging a bit of selling by farmers, dealers said.
* The soybean basis fell by 5 cents a bushel at soy-crushing facilities in Decatur, Illinois, and Sioux City, Iowa, and by 3 cents at Davenport, Iowa, on the Mississippi River.
* Corn basis bids were mixed. The basis fell by 3 cents a bushel at Blair, Nebraska, site of a large processing plant, but firmed by 3 cents at river elevators including Davenport, Iowa, and Morris, Illinois.
* Chicago Board of Trade (CBOT) November soybean futures SX24 settled up 32-3/4 cents at $10.68-3/4 per bushel on short-covering as traders unwound bets that former U.S. President Donald Trump would be re-elected and potentially roll out additional tariffs against top global soy buyer China. GRA/
* CBOT September corn CU24 finished 9-3/4 cents higher at $4.00-1/4 per bushel.
* After the close of the CBOT, the U.S. Department of Agriculture rated 68% of the U.S. soybean crop in "good-to-excellent" condition, unchanged from the previous week, while corn ratings fell to 67% "good-to-excellent", down 1 percentage point. Analysts surveyed by Reuters had expected no change in ratings for either crop.
Basis values are quoted against CBOT futures in cents/bu:
Current | Previous | |||||||
ELEVATORS | Bid | Bid | ||||||
Chicago, Illinois | ||||||||
Corn processors | +20 | + | U | +20 | + | U | UNC | |
Corn elevators | +10 | + | U | +10 | + | U | UNC | |
Soybean elevators | -10 | + | Q | -10 | + | Q | UNC | |
Wheat elevators | -15 | + | U | -15 | + | U | UNC | |
Wheat processors | -10 | + | U | -10 | + | U | UNC | |
Decatur IL corn | +18 | + | U | +18 | + | U | UNC | |
Decatur IL soybeans | +35 | + | Q | +40 | + | Q | DN 5 | |
Burns Harbor IN corn | UNQ | UNQ | UNC | |||||
Burns Harbor IN soy | UNQ | UNQ | UNC | |||||
Lafayette IN soy | +25 | + | Q | +25 | + | Q | UNC | |
Toledo OH (port) | ||||||||
Corn | -30 | + | U | -30 | + | U | UNC | |
Soy | +40 | + | X | -10 | + | Q | NC | |
SRW wheat | -35 | + | U | -35 | + | U | UNC | |
Davenport IA (river) | ||||||||
Corn | +0 | + | U | -3 | + | U | UP 3 | |
Soy | +0 | + | Q | +3 | + | Q | DN 3 | |
Evansville IN (rail) | ||||||||
15-car CSX corn | -7 | + | U | -7 | + | N | NC | |
Cincinnati OH (rail) | ||||||||
3-car corn | UNQ | UNQ | UNC | |||||
Hereford TX corn | +130 | + | U | +130 | + | U | UNC | |
Columbus OH (rail) | ||||||||
3-car corn | -7 | + | U | -7 | + | N | NC | |
Morris IL (river) | ||||||||
Corn | +3 | + | U | +0 | + | U | UP 3 | |
Soybeans | +15 | + | Q | +15 | + | Q | UNC | |
Fort Worth TX corn | +130 | + | U | +130 | + | U | UNC | |
Blair NE corn | +37 | + | U | +40 | + | U | DN 3 | |
Council Bluffs, IA (elevator) | ||||||||
Corn | +25 | + | U | +25 | + | U | UNC | |
Soy | +35 | + | X | +35 | + | X | UNC | |
Des Moines IA soy | +55 | + | X | +55 | + | X | UNC | |
Sioux City IA soy | +35 | + | X | +40 | + | X | DN 5 |
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 Rod Nickel and Sherry Jacob-Phillips
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