US Cash Grains-Corn, soy basis bids steady-weak as Midwest harvest rolls on
CHICAGO, Sept 19 (Reuters) -Basis bids for corn and soybeans were steady to weaker in the U.S. Midwest on Thursday on seasonal pressure as the harvest of both crops expanded, replenishing supply pipelines, grain dealers said.
* The corn basis fell by 2 cents a bushel at Decatur, Illinois, a closely watched processing site, and by 3 cents at an elevator in Council Bluffs, Iowa.
* The corn basis fell by as much as 10 cents a bushel at Midwest river elevators where grain is loaded onto barges for shipment toward U.S. Gulf export terminals.
* The soybean basis fell by 5 cents a bushel at Council Bluffs and by 6 cents at Davenport, Iowa, along the Mississippi River.
* Grain handlers and shippers continue to monitor low water levels on the lower Mississippi River that have impeded barge shipments to the Gulf. Barge lines are limiting drafts and tow sizes, which is increasing the per-bushel cost of shipping.
* A few rain showers crossed southern Minnesota, northern Iowa and western Wisconsin on Thursday but only minor interruptions to field work were expected, the Commodity Weather Group said in a client note.
* At the Chicago Board of Trade on Thursday, corn futures Cv1 fell on harvest-related selling while soybeans Sv1 ended fractionally lower after a choppy session. CBOT December corn CZ24 settled down 7 cents at $4.05-3/4 per bushel and November soybeans SX24 ended down 3/4 cent at $10.13-1/4 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 | -30 | + | X | -30 | + | X | UNC | |
Wheat elevators | -15 | + | Z | -15 | + | Z | UNC | |
Wheat processors | -25 | + | Z | -25 | + | Z | UNC | |
Decatur IL corn | -20 | + | Z | -18 | + | Z | DN 2 | |
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 | -35 | + | Z | -25 | + | Z | DN 10 | |
Soy | -68 | + | X | -62 | + | X | DN 6 | |
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 | -42 | + | Z | -40 | + | Z | DN 2 | |
Soybeans | -35 | + | X | -35 | + | X | UNC | |
Fort Worth TX corn | +135 | + | Z | +135 | + | Z | UNC | |
Blair NE corn | +5 | + | Z | +5 | + | Z | UNC | |
Council Bluffs, IA (elevator) | ||||||||
Corn | -17 | + | Z | -14 | + | Z | DN 3 | |
Soy | -35 | + | X | -30 | + | X | DN 5 | |
Des Moines IA soy | -45 | + | X | -45 | + | X | UNC | |
Sioux City IA soy | -10 | + | X | -10 | + | 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 David Gregorio
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