US Cash Grains-Soybean basis steady-softer, corn mixed, wheat basis firm
CHICAGO, Aug 28 (Reuters) -Spot basis bids for soybeans were steady to softer at U.S. Midwest processing sites on Wednesday, continuing this week's weaker trend, while corn basis bids were mixed, dealers said.
* The basis fell by 15 cents a bushel at a soybean crushing facility in Lafayette, Indiana, following similar moves this week at other Midwest soy processors. The weak tone reflected increased offerings of the oilseed as farmers and elevators clear space ahead of what is projected to be a bumper harvest this autumn.
* The corn basis weakened at grain processing facilities in Chicago and Blair, Nebraska.
* But bids for the yellow grain firmed at river elevators at Davenport, Iowa, and Morris, Illinois, a possible sign of demand from grain exporters at the Gulf export terminal.
* The U.S. Department of Agriculture (USDA) confirmed private sales of 165,735 metric tons of U.S. new-crop corn to Mexico and another 100,000 tons to Colombia.
* Ahead of Thursday's weekly USDA export sales report, traders expected the government to report U.S. new-crop corn sales in the week ended Aug. 22 at 700,000 to 1,400,000 metric tons and new-crop soybean sales of 1,500,000 to 2,500,000 tons.
* Basis bids for soft red winter wheat firmed by 15 cents a bushel at Toledo, Ohio, and by 5 cents at a northern Illinois flour mill.
* A few locations have begun rolling their corn and wheat basis to the Chicago Board of Trade December CZ24, WZ24 futures contracts as the September contracts CU24, WU24 near their delivery phase and Sept. 13 expiration.
Basis values are quoted against CBOT futures in cents/bu:
Current | Previous | |||||||
ELEVATORS | Bid | Bid | ||||||
Chicago, Illinois | ||||||||
Corn processors | +25 | + | U | +30 | + | U | DN 5 | |
Corn elevators | -20 | + | U | -20 | + | U | UNC | |
Soybean elevators | -35 | + | X | -35 | + | X | UNC | |
Wheat elevators | -5 | + | U | -5 | + | U | UNC | |
Wheat processors | +5 | + | U | +0 | + | U | UP 5 | |
Decatur IL corn | -10 | + | Z | -10 | + | Z | UNC | |
Decatur IL soybeans | -10 | + | X | -10 | + | X | UNC | |
Burns Harbor IN corn | UNQ | UNQ | UNC | |||||
Burns Harbor IN soy | UNQ | UNQ | UNC | |||||
Lafayette IN soy | +10 | + | X | +25 | + | X | DN 15 | |
Toledo OH (port) | ||||||||
Corn | -45 | + | Z | -27 | + | U | NC | |
Soy | -35 | + | X | -35 | + | X | UNC | |
SRW wheat | -20 | + | U | -35 | + | U | UP 15 | |
Davenport IA (river) | ||||||||
Corn | -15 | + | U | -20 | + | U | UP 5 | |
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 | -6 | + | U | UNC | |
Morris IL (river) | ||||||||
Corn | -10 | + | U | -15 | + | U | UP 5 | |
Soybeans | -25 | + | X | -25 | + | X | UNC | |
Fort Worth TX corn | +135 | + | U | +135 | + | U | UNC | |
Blair NE corn | +30 | + | U | +35 | + | U | DN 5 | |
Council Bluffs, IA (elevator) | ||||||||
Corn | +25 | + | U | +25 | + | U | UNC | |
Soy | -25 | + | X | -25 | + | X | UNC | |
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
---------------------------------------------------------
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 Lincoln Feast.
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.