US Cash Grains-Corn basis steady to firmer; soybean bids mixed
CHICAGO, July 10 (Reuters) -Spot basis bids for corn were steady to firmer around the U.S. Midwest on Wednesday, reflecting demand from grain handlers and processors as Chicago Board of Trade corn futures CU24 hovered near life-of-contract lows, discouraging farmer sales.
* Basis bids for soybeans were mixed.
* The corn basis strengthened by 4 cents at an elevator in Cincinnati, Ohio and a river terminal in Davenport, Iowa. The basis improved by 2 cents at an ethanol plant in Union City, Indiana.
* The soybean basis dropped 5 cents at a crushing plant in Morristown, Indiana, but firmed by 1 cent at the elevator in Cincinnati.
* The U.S. Department of Agriculture's supply and demand data, due to be released on Friday, was expected by analysts to show higher production of corn than the previous month, but lower production of soybeans, according to a poll by Reuters.
* The last remnants of Hurricane Beryl were expected to bring beneficial rains to the central U.S. on Wednesday before drier weather arrives, according to analysts.
Basis values are quoted against CBOT futures in cts/bushel:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | +13 | + | U | UP 4 | +26 | + | Q | UP 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 | +15 | + | U | UNC | +45 | + | Q | UNC | |
DECATUR IN | +30 | + | Q | UNC | |||||
MORRISTOWN IN | +20 | + | Q | DN 5 | |||||
LAFAYETTE IN | +35 | + | Q | UNC | |||||
CEDAR RAPIDS IA | +17 | + | U | UNC | +15 | + | Q | UNC | |
COUNCIL BLUFFS IA | +0 | + | Q | UNC | |||||
LINCOLN NE | -10 | + | Q | UNC | |||||
BLAIR NE | +40 | + | U | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -37 | + | U | UNC | -13 | + | Q | UNC | |
SENECA IL | +2 | + | U | UNC | +26 | + | Q | UNC | |
SAVANNA IL | -23 | + | U | UNC | -21 | + | Q | UNC | |
DAVENPORT IA | -8 | + | U | UP 4 | -5 | + | Q | UNC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | +7 | + | U | UNC | |||||
UNION CITY IN | -10 | + | U | UP 2 | |||||
ANNAWAN IL | -10 | + | U | UNC | |||||
COUNCIL BLUFFS IA | +22 | + | U | UNC | |||||
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
--------------------------------------------------------
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 Renee Hickman
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