US Cash Grains-Soy, corn basis mostly flat to weaker on harvest activity
CHICAGO, Sept 18 (Reuters) -Basis bids for soybeans and corn were mostly flat to weaker in the U.S. Midwest on Wednesday as the harvest ramped up, steering fresh supplies of both crops into elevators and processing facilities, dealers said.
* The soybean basis fell by 5 to 10 cents a bushel at soy crushing facilities in Des Moines and Sioux City, Iowa. The corn basis fell by 5 cents a bushel at a processor in Blair, Nebraska, and by 6 cents at an elevator in Council Bluffs, Iowa.
* One exception to the weaker trend in basis was Morris, Illinois, where grain is loaded onto barges for shipment on the Illinois River toward Gulf exporters. The soy basis improved by a nickel at Morris.
* Basis bids held firm in areas where harvesting had yet to begin and old-crop supplies were tight. In Toledo, Ohio, merchandisers have been offering a premium for corn and soybeans delivered by Sept. 27.
* 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 on Wednesday, soybean futures Sv1 rose on a round of short covering sparked by concerns that dry weather may slow soybean planting in Brazil, and corn futures Cv1 ended fractionally higher. Wheat futures Wv1 settled unchanged. 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 | -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 | -45 | + | X | UNC | |
Toledo OH (port) | ||||||||
Corn | -45 | + | Z | -45 | + | Z | UNC | |
Soy | -55 | + | X | -55 | + | X | UNC | |
SRW wheat | -20 | + | H | -20 | + | H | UNC | |
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 | -20 | + | Z | UNC | |
Morris IL (river) | ||||||||
Corn | -40 | + | Z | -40 | + | Z | UNC | |
Soybeans | -35 | + | X | -40 | + | X | UP 5 | |
Fort Worth TX corn | +135 | + | Z | +135 | + | Z | UNC | |
Blair NE corn | +5 | + | Z | +10 | + | Z | DN 5 | |
Council Bluffs, IA (elevator) | ||||||||
Corn | -14 | + | Z | -8 | + | Z | DN 6 | |
Soy | -30 | + | X | -30 | + | X | UNC | |
Des Moines IA soy | -45 | + | X | -40 | + | X | DN 5 | |
Sioux City IA soy | -10 | + | X | +0 | + | 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
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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 in Chicago
Editing by Matthew Lewis
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