US Cash Grains-Soy basis bids soften; corn basis steady
CHICAGO, Aug 27 (Reuters) -Spot basis bids for soybeans were steady to weaker at elevators and processing sites in the U.S. Midwest on Tuesday, reflecting farmer deliveries of old-crop soy and expectations of a bumper harvest this autumn, dealers said.
* The spot basis for the oilseed fell by 15 cents at bushel at a Toledo, Ohio, elevator and by 5 to 10 cents at processing sites in Decatur, Illinois, and Lafayette, Indiana.
* Corn basis bids were unchanged. A few locations have begun rolling their corn basis to the Chicago Board of Trade December CZ24 futures contract as the September contract CU24 approaches its expiration.
* A weekly U.S. Department of Agriculture report late on Monday rated 67% of the nation's soy crop and 65% of the corn crop in good-to-excellent condition, both down from the previous week. Corn ratings were one percentage point below analysts' expectations, while the soy rating met expectations.
Basis values are quoted against CBOT futures in cents/bu:
Current | Previous | |||||||
ELEVATORS | Bid | Bid | ||||||
Chicago, Illinois | ||||||||
Corn processors | +30 | + | U | +30 | + | U | UNC | |
Corn elevators | -20 | + | U | -20 | + | U | UNC | |
Soybean elevators | -35 | + | X | -35 | + | X | UNC | |
Wheat elevators | -5 | + | U | -5 | + | U | UNC | |
Wheat processors | +0 | + | U | +0 | + | U | UNC | |
Decatur IL corn | -10 | + | Z | -10 | + | Z | UNC | |
Decatur IL soybeans | -10 | + | X | +0 | + | X | DN 10 | |
Burns Harbor IN corn | UNQ | UNQ | UNC | |||||
Burns Harbor IN soy | UNQ | UNQ | UNC | |||||
Lafayette IN soy | +25 | + | X | +30 | + | X | DN 5 | |
Toledo OH (port) | ||||||||
Corn | -27 | + | U | -27 | + | U | UNC | |
Soy | -35 | + | X | -20 | + | X | DN 15 | |
SRW wheat | -35 | + | U | -35 | + | U | UNC | |
Davenport IA (river) | ||||||||
Corn | -20 | + | U | -20 | + | U | UNC | |
Soy | -40 | + | X | -40 | + | X | UNC | |
Evansville IN (rail) | ||||||||
15-car CSX corn | UNQ | UNQ | UNC | |||||
Cincinnati OH (rail) | ||||||||
3-car corn | UNQ | UNQ | UNC | |||||
Hereford TX corn | +135 | + | U | +135 | + | U | UNC | |
Columbus OH (rail) | ||||||||
3-car corn | -6 | + | U | UNQ | U | NC | ||
Morris IL (river) | ||||||||
Corn | -15 | + | U | -15 | + | U | UNC | |
Soybeans | -25 | + | X | -25 | + | X | UNC | |
Fort Worth TX corn | +135 | + | U | +135 | + | U | UNC | |
Blair NE corn | +35 | + | U | +35 | + | U | UNC | |
Council Bluffs, IA (elevator) | ||||||||
Corn | +25 | + | U | +25 | + | U | UNC | |
Soy | -25 | + | X | -20 | + | X | DN 5 | |
Des Moines IA soy | -25 | + | X | -25 | + | X | UNC | |
Sioux City IA soy | +0 | + | X | +0 | + | X | 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-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 Julie Ingwersen; Editing by Rashmi Aich
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