CHICAGO, Nov 17 (Reuters) - Basis bids for corn firmed across the U.S. Midwest on Monday, improving at processing sites and ethanol plants as well as river terminals, spot checks showed.
* The basis for corn improved by a nickel at Decatur, Illinois, a key processing site, and also strengthened at processors in Blair, Nebraska, and Cedar Rapids, Iowa.
* The U.S. harvest of corn and soybeans is nearly over brokers have said.
* A drop in Chicago Board of Trade corn futures CZ25 on Friday may have discouraged farmer grain sales. CBOT December corn CZ25 fell more than 2% on Friday after the U.S. Department of Agriculture trimmed its estimate of the U.S. 2025 corn yield less than most analysts had expected.
* CBOT corn futures rose on Monday but stayed below last week's highs.
* CBOT soybean futures, however, surged on Monday on optimism about export demand for U.S. supplies of the oilseed. GRA/
* Also, the National Oilseed Processors Association said that its members crushed a record-high 227.6 million bushels of soybeans in October, up 15.1% from September and up 13.9% from a year earlier. The figure topped a range of trade expectations.
Basis values are quoted against CBOT futures in cts/bu:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | +1 | + | Z | UNC | -19 | + | F | DN 1 | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | |||||||
DES MOINES IA | UNQ | UNC | |||||||
LINCOLN NE | -47 | + | Z | UNC | |||||
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | +10 | + | Z | UP 5 | +0 | + | F | UNC | |
DECATUR IN | -5 | + | F | UNC | |||||
MORRISTOWN IN | +0 | + | F | UNC | |||||
LAFAYETTE IN | +0 | + | F | UP 5 | |||||
CEDAR RAPIDS IA | -13 | + | Z | UP 8 | -30 | + | F | UNC | |
COUNCIL BLUFFS IA | -50 | + | F | UNC | |||||
LINCOLN NE | -30 | + | F | UNC | |||||
BLAIR NE | -15 | + | Z | UP 5 | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -10 | + | Z | UNC | -35 | + | F | UNC | |
SENECA IL | -2 | + | Z | UP 5 | -20 | + | F | UP 2 | |
SAVANNA IL | -36 | + | Z | UNC | -61 | + | F | UNC | |
DAVENPORT IA | -17 | + | Z | UP 3 | -39 | + | F | UP 3 | |
ETHANOL PLANTS | |||||||||
LINDEN IN | +0 | + | Z | UP 4 | |||||
UNION CITY IN | +12 | + | Z | UNC | |||||
ANNAWAN IL | -2 | + | Z | UP 3 | |||||
COUNCIL BLUFFS IA | -15 | + | Z | UP 5 | |||||
SRW WHEAT | |||||||||
TOLEDO OH | -35 | + | Z | UNC | |||||
CINCINNATI OH | UNQ | UNC | |||||||
DECATUR IN | -30 | + | Z | 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 Julie Ingwersen; Editing by Cynthia Osterman)
((Julie.ingwersen@thomsonreuters.com; 1-313-484-5283))