US Cash Grains-Soy, corn basis bids mixed as farmers eye weather

Reuters
07-24
US Cash Grains-Soy, corn basis bids mixed as farmers eye weather

CHICAGO, July 23 (Reuters) - Spot basis bids for corn and soybeans were mixed in the U.S. Midwest on Wednesday as selling remained slow and industry players kept a close eye on weather in the U.S. crop belts.

  • The corn basis fell at a river terminal and two ethanol plants and rose at a river terminal.

  • The soy basis fell at an Illinois river terminal and rose at an Iowa river terminal.

  • Soybean futures climbed following a decline in U.S. crop ratings and hopes that trade deals may boost demand for U.S. exports.

  • Corn rose slightly, clawing back some of Tuesday's losses, but forecasts for crop-friendly rain in U.S. grain belts and plentiful supply weighed.

  • CBOT September corn futures CU25 were last down 1/2 cent to $3.98-3/4 per bushel, while new-crop December corn CZ25 was down 1/4 cent to $4.17-3/4 a bushel as of midday.

  • CBOT August soybean futures SQ25 were up 4 cents to $10.14-1/4 per bushel. New-crop November soybeans SX25 were up 4-1/2 cents to $10.30 a bushel.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+19

+

U

UNC

+22

+

Q

UNC

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

UNC

DES MOINES IA

UNQ

UNC

LINCOLN NE

-5

+

U

UNC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

+18

+

U

UNC

+20

+

X

UNC

DECATUR IN

+10

+

X

UNC

MORRISTOWN IN

+40

+

X

UNC

LAFAYETTE IN

+30

+

X

UNC

CEDAR RAPIDS IA

+2

+

U

UNC

-10

+

X

UNC

COUNCIL BLUFFS IA

-5

+

X

UNC

LINCOLN NE

-20

+

X

UNC

BLAIR NE

+5

+

U

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

+10

+

U

UNC

-50

+

X

UNC

SENECA IL

+2

+

U

UP 1

+5

+

Q

UNC

SAVANNA IL

-11

+

U

UNC

-41

+

Q

DN 6

DAVENPORT IA

-9

+

U

DN 3

-10

+

Q

UP 1

ETHANOL PLANTS

LINDEN IN

+20

+

U

UNC

UNION CITY IN

+53

+

U

DN 2

ANNAWAN IL

-2

+

U

UNC

COUNCIL BLUFFS IA

+5

+

U

DN 3

SRW WHEAT

TOLEDO OH

-32

+

U

DN 3

CINCINNATI OH

-22

+

U

UNC

DECATUR IN

-25

+

U

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 Heather Schlitz, editing by Ed Osmond)

((Heather.Schlitz@thomsonreuters.com;))

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