CHICAGO, May 22 (Reuters) - Spot cash corn basis bids were mostly steady to firm around the U.S. Midwest on Thursday, supported by slow farmer sales, while soybean basis bids were mostly unchanged to slightly lower, crop merchants said.
A barge-loading river elevator in Bettendorf, Iowa, raised its spot corn basis bid by 2 cents a bushel, while a river elevator in Morris, Illinois, trimmed its soybean basis bid by 5 cents. The spot bid for rail-delivered corn in Columbus, Ohio, gained 7 cents.
Wet soil conditions kept many growers out of their fields on Thursday following early-week storms in the Midwest. Planting has been ahead of normal and a drier weather pattern is forecast through next week. However, rains are expected to sideline farmers around parts of the Ohio River valley.
Weekly U.S. corn export sales in the week ended May 15 fell to a three-week low, while soybean sales were the lowest in four weeks, according to U.S. Department of Agriculture data issued on Thursday. EXP/CORN EXP/SOY
CBOT July corn futures CN25 settled 2 cents higher on Thursday at $4.63 a bushel, while July soybeans SN25 ended 4-3/4 cents higher at $10.67-1/2 per bushel.
Basis values are quoted against CBOT futures in cents/bu:
Current | Previous | |||||||
Bid | Bid | |||||||
Chicago, Illinois | ||||||||
Corn processors | -5 | + | N | -5 | + | N | UNC | |
Corn elevators | +20 | + | N | +20 | + | N | UNC | |
Soybean elevators | +0 | + | N | +0 | + | N | UNC | |
Wheat elevators | +0 | + | N | +0 | + | N | UNC | |
Wheat processors | -35 | + | N | -35 | + | N | UNC | |
Decatur IL corn | +4 | + | N | +4 | + | N | UNC | |
Decatur IL soybeans | +13 | + | N | +13 | + | N | UNC | |
Burns Harbor IN corn | UNQ | UNQ | UNC | |||||
Burns Harbor IN soy | UNQ | UNQ | UNC | |||||
Lafayette IN soy | +30 | + | N | +30 | + | N | UNC | |
Toledo OH (port) | ||||||||
Corn | +7 | + | N | +7 | + | N | UNC | |
Soy | +10 | + | N | +10 | + | N | UNC | |
SRW wheat | -40 | + | N | -40 | + | N | UNC | |
Davenport IA (river) | ||||||||
Corn | -7 | + | N | -9 | + | N | UP 2 | |
Soy | -20 | + | N | -20 | + | N | UNC | |
Evansville IN (rail) | ||||||||
15-car CSX corn | UNQ | UNQ | UNC | |||||
Cincinnati OH (rail) | ||||||||
3-car corn | UNQ | UNQ | UNC | |||||
Hereford TX corn | +120 | + | N | +120 | + | N | UNC | |
Columbus OH (rail) | ||||||||
3-car corn | +31 | + | N | +24 | + | N | UP 7 | |
Morris IL (river) | ||||||||
Corn | +0 | + | N | +0 | + | N | UNC | |
Soybeans | -5 | + | N | +0 | + | N | DN 5 | |
Fort Worth TX corn | +120 | + | N | +120 | + | N | UNC | |
Blair NE corn | +6 | + | N | +6 | + | N | UNC | |
Council Bluffs, IA (elevator) | ||||||||
Corn | -2 | + | N | -2 | + | N | UNC | |
Soy | -25 | + | N | -25 | + | N | UNC | |
Des Moines IA soy | -10 | + | N | -10 | + | N | UNC | |
Sioux City IA soy | -5 | + | N | -5 | + | N | 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 = July, Q = August,U = September, X = November, Z = December
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LINKS: 0#USCSHGRN-AM
For U.S. forward basis spreadsheets, please click on:
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 AM GRA/M
- U.S. CIF/FOB Gulf Grain GRA/F
(Reporting by Karl Plume; Editing by David Gregorio)
((karl.plume@thomsonreuters.com; +1 313 484 5285))
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