US Cash Grains-Soy, corn basis mostly steady-weak as harvest expands
CHICAGO, Sept 17 (Reuters) -Basis bids for soybeans and corn were mostly steady to weaker in the U.S. Midwest on Tuesday as the harvest of both crops started ramping up in many areas, aided by warm and generally dry weather, dealers said.
* The soybean basis fell by 10 cents a bushel at soy crushing facilities in Lafayette, Indiana, and Sioux City, Iowa.
* The corn basis fell by 10 cents at a Chicago-area processing plant.
* However, tight grain supplies supported basis bids in areas where the harvest had yet to begin. A Toledo, Ohio, terminal elevator was offering a 10-cent premium for prompt deliveries of corn and soybeans.
* The Toledo location was bidding 45 cents under Chicago Board of Trade December CZ24 corn futures for corn delivered by Sept. 27, and 55 cents under futures for later deliveries. For soybeans, the site was bidding 55 cents under CBOT November SX24 soybean futures for deliveries by the 27th, and 65 cents under futures after that date.
* The U.S. corn harvest was 9% complete and the soybean harvest was 6% complete as of Sunday, USDA's latest weekly crop progress report showed.
* At the CBOT, corn Cv1 and soybean Sv1 futures inched higher on Tuesday in range-bound trade as market players awaited more reports from the field as the U.S. harvest expands. GRA/
Basis values are quoted against CBOT futures in cents/bu:
Current | Previous | |||||||
ELEVATORS | Bid | Bid | ||||||
Chicago, Illinois | ||||||||
Corn processors | +0 | + | Z | +10 | + | Z | DN 10 | |
Corn elevators | -25 | + | Z | -25 | + | Z | UNC | |
Soybean elevators | -30 | + | X | -30 | + | X | UNC | |
Wheat elevators | -15 | + | Z | -15 | + | Z | UNC | |
Wheat processors | -25 | + | Z | -25 | + | Z | UNC | |
Decatur IL corn | -18 | + | Z | -18 | + | Z | UNC | |
Decatur IL soybeans | -20 | + | X | -20 | + | X | UNC | |
Burns Harbor IN corn | UNQ | UNQ | UNC | |||||
Burns Harbor IN soy | UNQ | UNQ | UNC | |||||
Lafayette IN soy | -45 | + | X | -35 | + | X | DN 10 | |
Toledo OH (port) | ||||||||
Corn | -45 | + | Z | -55 | + | Z | UP 10 | |
Soy | -55 | + | X | -65 | + | X | UP 10 | |
SRW wheat | -20 | + | H | -20 | + | Z | NC | |
Davenport IA (river) | ||||||||
Corn | -25 | + | Z | -25 | + | Z | UNC | |
Soy | -62 | + | X | -62 | + | 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 | + | Z | +135 | + | Z | UNC | |
Columbus OH (rail) | ||||||||
3-car corn | -20 | + | Z | UNQ | Z | NC | ||
Morris IL (river) | ||||||||
Corn | -40 | + | Z | -40 | + | Z | UNC | |
Soybeans | -40 | + | X | -40 | + | X | UNC | |
Fort Worth TX corn | +135 | + | Z | +135 | + | Z | UNC | |
Blair NE corn | +10 | + | Z | +10 | + | Z | UNC | |
Council Bluffs, IA (elevator) | ||||||||
Corn | -8 | + | Z | -8 | + | Z | UNC | |
Soy | -30 | + | X | -30 | + | X | UNC | |
Des Moines IA soy | -40 | + | X | -40 | + | X | UNC | |
Sioux City IA soy | +0 | + | X | +10 | + | X | DN 10 |
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 Alan Barona
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