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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