US Cash Grains-Corn basis steady to up as old crop supplies dwindle
CHICAGO, Sept 5 (Reuters) -Spot basis bids for corn in the U.S. Midwest were mostly steady to higher at elevators, processors and river terminals on Thursday as merchants awaited more new crop corn.
* Merchants said they were trying to close the gap between old and new crop corn as old crop supplies diminish.
* Demand at the Gulf fueled rising corn basis numbers at river terminals.
* The corn basis rose by 7 cents at river terminals in Seneca and Savanna, Illinois.
* It rose by 3 cents at an elevator in Cincinnati and a processor in Cedar Rapids.
* The soybean basis fell at processors and river terminals in a spot check.
* CBOT December corn CZ24 was down 3-1/2 cents at $4.09-1/4 at midday. November soybeans SX24 were down 4-1/2 cents at $10.17 per bushel.
Basis values are quoted against CBOT futures in cts/bushel:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | -37 | + | Z | UP 3 | -48 | + | X | UP 2 | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | |||||||
DES MOINES IA | UNQ | UNC | |||||||
LINCOLN NE | -15 | + | Z | UNC | |||||
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | -12 | + | Z | UNC | -20 | + | X | UNC | |
DECATUR IN | -20 | + | X | UNC | |||||
MORRISTOWN IN | -10 | + | X | DN 5 | |||||
LAFAYETTE IN | -10 | + | X | DN 20 | |||||
CEDAR RAPIDS IA | +10 | + | Z | UP 3 | -35 | + | X | DN 5 | |
COUNCIL BLUFFS IA | -15 | + | X | UNC | |||||
LINCOLN NE | -25 | + | X | UNC | |||||
BLAIR NE | +15 | + | Z | UP 5 | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -60 | + | Z | UNC | -70 | + | X | UNC | |
SENECA IL | -28 | + | Z | UP 7 | -40 | + | X | UNC | |
SAVANNA IL | -36 | + | Z | UP 7 | -56 | + | X | DN 5 | |
DAVENPORT IA | -30 | + | Z | UNC | -58 | + | X | UNC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | -25 | + | Z | UNC | |||||
UNION CITY IN | -49 | + | Z | UP 2 | |||||
ANNAWAN IL | -24 | + | Z | DN 4 | |||||
COUNCIL BLUFFS IA | -15 | + | Z | UNC | |||||
SRW WHEAT | |||||||||
TOLEDO OH | -45 | + | Z | UNC | |||||
CINCINNATI OH | UNQ | UNC | |||||||
DECATUR IN | UNQ | 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 Alexander Smith
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