US Cash Grains-Soy, corn basis bids rise at interior and river facilities

Reuters
06-02
US Cash Grains-Soy, corn basis bids rise at interior and river facilities

CHICAGO, June 2 (Reuters) - Spot soybean and corn basis bids rose at some river terminals and interior grain facilities in the U.S. Midwest on Monday, spot checks showed.

  • Farmers are finishing up plantings of both crops and been selling relatively minimal amounts as the growing season gets underway, grain dealers said.

  • Widespread rain is expected to benefit dry areas of the Midwest this week, forecaster Commodity Weather Group said.

  • The U.S. Department of Agriculture is slated to issue its first crop ratings of the year for soybeans and to update its ratings for the corn crop in a weekly report due at 3 p.m. CDT (2000 GMT).

  • The U.S. soybean crush likely hit 6.055 million short tons in April, or 201.8 million bushels, analysts said ahead of a monthly USDA report at 2 p.m. CDT (1900 GMT). If realized, the crush would be down 2.3% from March, but up 13.7% from April 2024.

  • Soybean futures Sv1 touched their lowest price since April 17 at the Chicago Board of Trade.

Basis values are quoted against CBOT futures in cts/bu:

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+10

+

N

UNC

+7

+

N

UP 3

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

+5

+

N

UP 1

+20

+

N

UP 5

DECATUR IN

+35

+

N

UNC

MORRISTOWN IN

+35

+

N

UNC

LAFAYETTE IN

+30

+

N

UNC

CEDAR RAPIDS IA

-1

+

N

UNC

-15

+

N

UP 5

COUNCIL BLUFFS IA

-10

+

N

UNC

LINCOLN NE

-10

+

N

UNC

BLAIR NE

+2

+

N

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

+10

+

N

UP 3

+15

+

N

UP 5

SENECA IL

+1

+

N

UNC

-5

+

N

UNC

SAVANNA IL

-18

+

N

UP 3

-36

+

N

UP 5

DAVENPORT IA

-7

+

N

UNC

-15

+

N

UNC

ETHANOL PLANTS

LINDEN IN

+15

+

N

UNC

UNION CITY IN

+34

+

N

UNC

ANNAWAN IL

-10

+

N

UP 8

COUNCIL BLUFFS IA

+0

+

N

UNC

SRW WHEAT

TOLEDO OH

-25

+

N

UP 10

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

--------------------------------------------------------

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 Shailesh Kuber)

((Thomas.Polansek@thomsonreuters.com))

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