US Cash Grains-Corn, soybean basis steady-firm at river elevators

Reuters
04-25
US Cash Grains-Corn, soybean basis steady-firm at river elevators

CHICAGO, April 24 (Reuters) - Spot soybean basis bids were steady to higher at interior and river elevators around the U.S. Midwest on Thursday and mostly steady at processing plants as scant farmer selling underpinned the market, grain dealers said.

* Spot corn basis bids held mostly steady at ethanol plants and other processors, while bids ticked higher at several river elevators.

* Several soy processing plants raised their spot basis bids earlier this week to entice farmers to sell more of their old-crop supply. But sales have remained generally light, dealers said.

* Improved planting weather in the central Midwest following recent rains is expected to accelerate planting of corn and soybeans. The planting pace for both crops has been slightly ahead of average so far this spring.

* Chicago Board of Trade soybean futures Sv1 were higher for a third straight day on Thursday, with May futures SK25 up 8 cents near midday at $10.48-1/4 a bushel. May corn CK25 was up 4-3/4 cents at $4.76-3/4 a bushel.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+7

+

K

UNC

+11

+

K

UP 2

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

UNC

DES MOINES IA

UNQ

UNC

LINCOLN NE

-25

+

K

UNC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

+14

+

K

UNC

+20

+

K

UNC

DECATUR IN

+25

+

K

UNC

MORRISTOWN IN

+25

+

K

UNC

LAFAYETTE IN

+25

+

K

UNC

CEDAR RAPIDS IA

+0

+

K

DN 1

+5

+

K

UNC

COUNCIL BLUFFS IA

+0

+

K

UNC

LINCOLN NE

-10

+

K

UNC

BLAIR NE

-4

+

K

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

+0

+

K

UNC

+0

+

K

UNC

SENECA IL

+1

+

K

UP 1

+2

+

K

UP 4

SAVANNA IL

-24

+

K

UNC

-36

+

K

UNC

DAVENPORT IA

-5

+

K

UP 3

-5

+

K

UP 3

ETHANOL PLANTS

LINDEN IN

+5

+

K

UNC

UNION CITY IN

+17

+

K

UNC

ANNAWAN IL

-12

+

K

UNC

COUNCIL BLUFFS IA

-8

+

K

UNC

SRW WHEAT

TOLEDO OH

-35

+

K

UNC

CINCINNATI OH

UNQ

UNC

DECATUR IN

-40

+

K

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 Karl Plume in Chicago; Editing by Chris Reese)

((karl.plume@thomsonreuters.com; +1 313 484 5285))

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