US Cash Grains-Corn bids steady to higher at ethanol plants, other processors
CHICAGO, July 2 (Reuters) -Spot basis bids for corn were steady to up at ethanol plants, river terminals and other processors on Tuesday, driven by limited farmer selling and logistical issues caused by U.S. Midwest flooding, according to analysts.
* The corn basis increased at ethanol plants in Annawan, Illinois, and Council Bluffs, Iowa. Basis also rose at a processor in Blair, Nebraska, and a river terminal in Seneca, Illinois.
* Analysts said depressed corn prices and logistical problems associated with recent flooding in the central U.S. had pushed the corn basis up at some locations as buyers tried to entice more farmers to sell.
* More locations rolled their corn basis to the CBOT September CU24 futures contract and the soy basis to the CBOT August SQ24 futures contract.
* The U.S. Department of Agriculture on Monday rated the U.S. corn as 67% in good to excellent condition, down from 69% a week ago and below analyst estimates of 68%, following flooding in corn-growing areas.
* The USDA rated the U.S. soybean crop at 67% good to excellent, unchanged from last week and above analyst expectations of 66%.
Basis values are quoted against CBOT futures in cts/bushel:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | +1 | + | U | UNC | +22 | + | Q | UNC | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | |||||||
DES MOINES IA | UNQ | UNC | |||||||
LINCOLN NE | +5 | + | N | UNC | |||||
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | +12 | + | U | UNC | +50 | + | Q | UNC | |
DECATUR IN | +30 | + | Q | UNC | |||||
MORRISTOWN IN | +30 | + | Q | UNC | |||||
LAFAYETTE IN | -30 | + | X | UNC | |||||
CEDAR RAPIDS IA | +30 | + | U | NC | +15 | + | Q | UNC | |
COUNCIL BLUFFS IA | +5 | + | Q | UNC | |||||
LINCOLN NE | -10 | + | Q | UNC | |||||
BLAIR NE | +40 | + | U | UP 5 | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -37 | + | U | UNC | -13 | + | Q | UNC | |
SENECA IL | +4 | + | N | UP 3 | +8 | + | N | UNC | |
SAVANNA IL | -23 | + | U | UNC | -21 | + | Q | UNC | |
DAVENPORT IA | -12 | + | U | NC | +5 | + | Q | NC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | +0 | + | U | NC | |||||
UNION CITY IN | -16 | + | U | UNC | |||||
ANNAWAN IL | +0 | + | U | UP 5 | |||||
COUNCIL BLUFFS IA | +18 | + | U | UP 4 | |||||
SRW WHEAT | |||||||||
TOLEDO OH | -20 | + | N | 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; Editing by Vijay Kishore
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