US Cash Grains-Corn basis steady-weak on harvest pressure; soy bids mixed
CHICAGO, Sept 19 (Reuters) -Basis bids for corn were steady to weaker in the Midwest on Thursday, spot checks showed, as the expanding U.S. harvest began steering fresh grain supplies into processors' pipelines.
* The corn basis fell by 2 cents at Decatur, Illinois, a processing hub, and by 5 cents at a processing facility in Blair, Nebraska. The corn basis also weakened at a Cincinnati, Ohio, elevator and at Seneca, Illinois, where grain is loaded onto barges for shipment on the Illinois River toward Gulf exporters.
* Soybean basis bids were mixed, with the harvest still in its early stages. The spot basis fell by a nickel at Morristown, Indiana site of a soy crushing plant, following declines at other Midwest crushers earlier this week.
* But the bean basis improved by 5 cents at the Seneca, Illinois, river elevator and by a penny at Cincinnati, Ohio.
* The U.S. Energy Information Administration on Wednesday said weekly production of corn-based ethanol fell in the latest week to 1.049 million barrels per day, while stockpiles rose to 23.785 million barrels. EIA/S
* As of 11:42 a.m. CDT (1642 GMT), Chicago Board of Trade December corn futures CZ24 were down 5-1/2 cents at $4.07-1/4 per bushel while November soybeans SX24 were up 1-3/4 cents at $10.15-3/4 a bushel. GRA/
Basis values are quoted against CBOT futures in cts/bushel:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | -53 | + | Z | DN 2 | -66 | + | X | UP 1 | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | |||||||
DES MOINES IA | UNQ | UNC | |||||||
LINCOLN NE | -20 | + | Z | UNC | |||||
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | -20 | + | Z | DN 2 | -20 | + | X | UNC | |
DECATUR IN | -38 | + | X | UNC | |||||
MORRISTOWN IN | -40 | + | X | DN 5 | |||||
LAFAYETTE IN | -45 | + | X | UNC | |||||
CEDAR RAPIDS IA | +25 | + | Z | UNC | -40 | + | X | UNC | |
COUNCIL BLUFFS IA | -25 | + | X | UNC | |||||
LINCOLN NE | -25 | + | X | UNC | |||||
BLAIR NE | +5 | + | Z | DN 5 | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -55 | + | Z | UNC | -55 | + | X | UNC | |
SENECA IL | -42 | + | Z | DN 2 | -35 | + | X | UP 5 | |
SAVANNA IL | -31 | + | Z | UNC | -56 | + | X | UNC | |
DAVENPORT IA | -25 | + | Z | UNC | -62 | + | X | UNC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | -40 | + | Z | UNC | |||||
UNION CITY IN | -50 | + | Z | UNC | |||||
ANNAWAN IL | -30 | + | Z | UNC | |||||
COUNCIL BLUFFS IA | -22 | + | Z | UNC | |||||
SRW WHEAT | |||||||||
TOLEDO OH | -45 | + | Z | UNC | |||||
CINCINNATI OH | UNQ | UNC | |||||||
DECATUR IN | -75 | + | Z | 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
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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 Julie Ingwersen; Editing by Shailesh Kuber
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