CHICAGO, May 28 (Reuters) - Spot soybean basis bids were mixed in the U.S. Midwest on Wednesday as farmers finished with planting began to sell their product, while farmers in other areas focused on seeding their remaining corn and soy crop.
Soy bids ticked down at an Ohio elevator and rose at an Illinois river terminal.
Corn bids increased at an Illinois river terminal and were steady elsewhere, spot checks showed.
The U.S. Department of Agriculture's Tuesday crop progress report showed 68% of the U.S. corn crop as good to excellent in its first condition ratings for the 2025 season, well below the average estimate of 73% in a Reuters analyst poll.
Soybean planting was 76% complete, behind the average estimate in the Reuters poll of 78%. The USDA's figure was up from 66% a week ago and well ahead of the five-year average of 68%. The government expects to release soybean condition ratings starting with next week's report.
CBOT July corn futures CN25 were last down 7-3/4 cents at $4.51-3/4 per bushel and July soybean futures SN25 were down 11-3/4 cents at $10.50-3/4 per bushel.
Basis values are quoted against CBOT futures in cts/bu:
ELEVATORS | ||||||||
CORN | SOYBEANS | |||||||
CINCINNATI OH | +10 | + | N | UNC | +2 | + | N | DN 1 |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | ||||
DECATUR IN | UNQ | UNC | ||||||
DES MOINES IA | UNQ | UNC | ||||||
LINCOLN NE | -25 | + | N | UNC | ||||
PROCESSORS | ||||||||
CORN | SOYBEANS | |||||||
DECATUR IL | +4 | + | N | UNC | +15 | + | N | UNC |
DECATUR IN | +35 | + | N | UNC | ||||
MORRISTOWN IN | +35 | + | N | UNC | ||||
LAFAYETTE IN | +30 | + | N | UNC | ||||
CEDAR RAPIDS IA | -1 | + | N | UNC | -20 | + | N | UNC |
COUNCIL BLUFFS IA | -10 | + | N | UNC | ||||
LINCOLN NE | -10 | + | N | UNC | ||||
BLAIR NE | +2 | + | N | UNC | ||||
RIVER TERMINALS | ||||||||
CORN | SOYBEANS | |||||||
TOLEDO OH | +7 | + | N | UNC | +10 | + | N | UNC |
SENECA IL | +1 | + | N | UP 7 | -5 | + | N | UP 2 |
SAVANNA IL | -25 | + | N | UNC | -46 | + | N | UNC |
DAVENPORT IA | -7 | + | N | UNC | -20 | + | N | UNC |
ETHANOL PLANTS | ||||||||
LINDEN IN | +15 | + | N | UNC | ||||
UNION CITY IN | +34 | + | N | UNC | ||||
ANNAWAN IL | -18 | + | N | UNC | ||||
COUNCIL BLUFFS IA | +0 | + | N | UNC | ||||
SRW WHEAT | ||||||||
TOLEDO OH | -35 | + | N | UNC | ||||
CINCINNATI OH | UNQ | UNC | ||||||
DECATUR IN | -50 | + | N | UNC | ||||
BURNS HARBOR IN | UNQ | 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 = JulyQ = 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 Heather Schlitz in ChicagoEditing by Matthew Lewis)
((Heather.Schlitz@thomsonreuters.com;))
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