US Cash Grains-Corn, soy basis mixed as harvest rolls on
CHICAGO, Oct 4 (Reuters) -Basis bids for corn and soybeans were mixed in the U.S. Midwest on Friday with the ongoing harvest depressing prices in some areas, while immediate demand for grain elevated bids in a few locations, spot checks showed.
* Skies were clear in most of the Midwest and Plains on Friday, helping to advance field work, and the dry weather was forecast to continue. "Precipitation is expected to be well below normal across the central U.S. over the next 15 days," space technology company Maxar said in a daily ag weather note.
* The USDA said the soybean crop was 26% harvested and the corn crop was 21% cut as of Sept. 29. The government will release updated progress numbers on Monday.
* The corn basis fell by 6 cents a bushel at a Columbus, Ohio, rail terminal and by 5 cents at a processing plant in Blair, Nebraska. However, the basis improved by 10 cents at a Chicago-area corn processor.
* Soybean basis bids were mostly flat but the basis fell by a penny at a Council Bluffs, Iowa, elevator and rose by 4 cents at Davenport, Iowa, on the Mississippi River.
* On the Chicago Board of Trade, November soybean futures SX24 settled down 8-1/4 cents at $10.37-3/4 a bushel and December corn CZ24 ended down 3-1/2 cents at $4.24-3/4 a bushel, pressured by a stronger dollar .DXY and a lack of supportive news. GRA/
Basis values are quoted against CBOT futures in cents/bu:
Current | Previous | |||||||
ELEVATORS | Bid | Bid | ||||||
Chicago, Illinois | ||||||||
Corn processors | +15 | + | Z | +5 | + | Z | UP 10 | |
Corn elevators | -30 | + | Z | -30 | + | Z | UNC | |
Soybean elevators | -20 | + | X | -20 | + | X | UNC | |
Wheat elevators | -10 | + | Z | -10 | + | Z | UNC | |
Wheat processors | -20 | + | Z | -20 | + | Z | UNC | |
Decatur IL corn | -21 | + | Z | -21 | + | 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 | -35 | + | Z | -35 | + | Z | UNC | |
Soy | -40 | + | X | -40 | + | X | UNC | |
SRW wheat | -25 | + | Z | -25 | + | Z | UNC | |
Davenport IA (river) | ||||||||
Corn | -59 | + | Z | -59 | + | Z | UNC | |
Soy | -69 | + | X | -73 | + | X | UP 4 | |
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 | -26 | + | Z | -20 | + | Z | DN 6 | |
Morris IL (river) | ||||||||
Corn | -42 | + | Z | -42 | + | Z | UNC | |
Soybeans | -40 | + | X | -40 | + | X | UNC | |
Fort Worth TX corn | +135 | + | Z | +135 | + | Z | UNC | |
Blair NE corn | -10 | + | Z | -5 | + | Z | DN 5 | |
Council Bluffs, IA (elevator) | ||||||||
Corn | -20 | + | Z | -20 | + | Z | UNC | |
Soy | -53 | + | X | -52 | + | X | DN 1 | |
Des Moines IA soy | -50 | + | X | -50 | + | X | UNC | |
Sioux City IA soy | -40 | + | X | -40 | + | 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 Sandra Maler
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