US Cash Grains-Corn basis flat-down, soybean basis flat-up at elevators, processors
CHICAGO, Sept 24 (Reuters) -Basis bids for corn were flat to lower at elevators, processors and river terminals across the U.S. Midwest on Tuesday.
Soybeans were mostly steady to higher at elevators, processors and river terminals.
* The U.S. Department of Agriculture reported after trading ended on Monday that the U.S. corn harvest was 14% complete, beneath an average trade estimate of 17%. The agency said the soybean harvest was 13% complete, in line with expectations.
* December corn futures CZ24 are likely to feel pressure from advancing harvests in the coming weeks, according to traders.
* A corn processing location in Cedar Rapids, Iowa, lowered its corn basis by 5 cents per bushel, while an elevator in Cincinnati dropped its corn bid by 3 cents, and a river terminal in Davenport, Iowa dropped theirs by 5 cents.
* For soy, the basis rose by 3 cents at the elevator in Cincinnati, 5 cents at a processor in Lafayette, Indiana and 10 cents at a river terminal in Toledo, Ohio.
* CBOT December corn futures CZ24 fell 1-1/2 cents at $4.11-3/4 per bushel by 11 a.m. CDT (1600 GMT). November soybeans SX24 climbed 2-1/2 cents to $10.41-3/4 a bushel. GRA/
Basis values are quoted against CBOT futures in cts/bushel:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | -59 | + | Z | DN 3 | -62 | + | X | UP 3 | |
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 | UNC | -20 | + | X | UNC | |
DECATUR IN | -38 | + | X | UNC | |||||
MORRISTOWN IN | -40 | + | X | UNC | |||||
LAFAYETTE IN | -40 | + | X | UP 5 | |||||
CEDAR RAPIDS IA | +15 | + | Z | DN 5 | -40 | + | X | UNC | |
COUNCIL BLUFFS IA | -35 | + | X | UNC | |||||
LINCOLN NE | -25 | + | X | UNC | |||||
BLAIR NE | +5 | + | Z | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -55 | + | Z | UNC | -45 | + | X | UP 10 | |
SENECA IL | -42 | + | Z | UNC | -40 | + | X | DN 5 | |
SAVANNA IL | -31 | + | Z | UNC | -56 | + | X | UNC | |
DAVENPORT IA | -40 | + | Z | DN 5 | -60 | + | X | UP 8 | |
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
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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 Krishna Chandra Eluri
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