US Cash Grains-Corn, soybean basis flat-down at Midwest processors
CHICAGO, Sept 23 (Reuters) -Basis bids for corn and soybeans were steady to lower at processing facilities in the U.S. Midwest on Monday as autumn harvests advanced.
* Big crops are coming at the markets and will boost supply pipelines by the end of the month after dry weather accelerated the development of corn and soy, a trader said.
* The U.S. Department of Agriculture is slated to issue a weekly update on harvest progress after futures trading ends on Monday.
* December corn futures CZ24 traded above $4.10 per bushel at the Chicago Board of Trade (CBOT) but will likely face pressure from the advancing harvests in the coming weeks, a trader said.
* A processing location in Cedar Rapids, Iowa, lowered its corn basis by 10 cents per bushel, while another processor in Council Bluffs, Iowa, dropped its soy bid by 10 cents.
* For corn, the basis also weakened by 2 cents per bushel each at a processing site in Decatur, Illinois, and at a grain elevator in Cincinnati, Ohio.
* CBOT December corn futures CZ24 were up 10-3/4 cents at $4.12-1/2 per bushel by 12 p.m. CDT (1700 GMT). November soybeans SX24 climbed 22-1/2 cents to $10.34-1/2 a bushel. GRA/
Basis values are quoted against CBOT futures in cts/bushel:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | -56 | + | Z | DN 2 | -65 | + | X | UNC | |
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 | -22 | + | Z | DN 2 | -20 | + | X | UNC | |
DECATUR IN | -38 | + | X | UNC | |||||
MORRISTOWN IN | -40 | + | X | UNC | |||||
LAFAYETTE IN | -45 | + | X | UNC | |||||
CEDAR RAPIDS IA | +20 | + | Z | DN 10 | -40 | + | X | UNC | |
COUNCIL BLUFFS IA | -35 | + | X | DN 10 | |||||
LINCOLN NE | -25 | + | X | UNC | |||||
BLAIR NE | +5 | + | Z | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -55 | + | Z | UNC | -55 | + | X | UNC | |
SENECA IL | -42 | + | Z | UNC | -35 | + | X | UNC | |
SAVANNA IL | -31 | + | Z | UNC | -56 | + | X | UNC | |
DAVENPORT IA | -35 | + | Z | UNC | -68 | + | 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
--------------------------------------------------------
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 Tom Polansek; Editing by Vijay Kishore
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