US Cash Grains-Soybean basis steady-stronger; corn basis flat
CHICAGO, Oct 25 (Reuters) -Basis bids for soybeans were steady to stronger in the U.S. Midwest on Friday, reflecting demand from processors and exporters as the oilseed harvest wrapped up, merchandisers said.
* Exporters at the U.S. Gulf have been aggressively bidding for soybean barges this week, a factor that supported the soy basis at some Midwest river elevators despite rising costs for barge freight. BG/US
* The soybean basis at Davenport, Iowa, where grain is loaded onto barges for shipment on the Mississippi River, rose by 10 cents a bushel.
* The soybean basis also firmed at a crushing plant in Lafayette, Indiana, and an elevator in Council Bluffs, Iowa.
* Corn basis bids held steady on Friday after mixed changes this week.
* The soybean harvest was virtually complete in much of the Midwest, brokers said this week, while farmers were starting to finish up on corn. Scattered showers interrupted field work on Friday but the rain was "generally light and fleeting, with no significant effect" on the unusually fast harvest pace, the U.S. Department of Agriculture said in a daily weather note.
* On the Chicago Board of Trade, December corn futures CZ24 settled down 6-1/4 cents on Friday at $4.15-1/4 a bushel, while November soybeans SX24 ended down 8-1/2 cents at $9.87-3/4 a bushel. GRA/
Basis values are quoted against CBOT futures in cents/bu:
Current | Previous | |||||||
ELEVATORS | Bid | Bid | ||||||
Chicago, Illinois | ||||||||
Corn processors | +0 | + | Z | +0 | + | Z | UNC | |
Corn elevators | -25 | + | Z | -25 | + | Z | UNC | |
Soybean elevators | -20 | + | X | -20 | + | X | UNC | |
Wheat elevators | -10 | + | Z | -10 | + | Z | UNC | |
Wheat processors | -10 | + | Z | -10 | + | Z | UNC | |
Decatur IL corn | -19 | + | Z | -19 | + | 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 | -15 | + | X | -20 | + | X | UP 5 | |
Toledo OH (port) | ||||||||
Corn | -38 | + | Z | -38 | + | Z | UNC | |
Soy | -35 | + | X | -35 | + | X | UNC | |
SRW wheat | -25 | + | Z | -25 | + | Z | UNC | |
Davenport IA (river) | ||||||||
Corn | -45 | + | Z | -45 | + | Z | UNC | |
Soy | -15 | + | X | -25 | + | X | UP 10 | |
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 | -25 | + | Z | -25 | + | Z | UNC | |
Morris IL (river) | ||||||||
Corn | -35 | + | Z | -35 | + | Z | UNC | |
Soybeans | -10 | + | X | -10 | + | X | UNC | |
Fort Worth TX corn | +135 | + | Z | +135 | + | Z | UNC | |
Blair NE corn | -15 | + | Z | -15 | + | Z | UNC | |
Council Bluffs, IA (elevator) | ||||||||
Corn | -25 | + | Z | -25 | + | Z | UNC | |
Soy | -50 | + | X | -55 | + | X | UP 5 | |
Des Moines IA soy | -40 | + | X | -40 | + | X | UNC | |
Sioux City IA soy | -20 | + | X | -20 | + | 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
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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 Diane Craft
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