CHICAGO, June 12 (Reuters) - Spot soybean basis bids were down at U.S. Midwest processors and mostly down at river terminals on Thursday, according to a spot check. ADM locations were dropping their bids as they rolled over the November contract for soybeans, and other facilities followed suit.
Dealers have adequate supply and export demand is being pulled to shipping terminals in the Pacific Northwest, analysts said.
The soybean basis lost ground at processors in Decatur, Illinois; Decatur, Indiana; Morristown, Indiana; Lafayette, Indiana and Council Bluffs, Iowa, among others.
The soybean basis also dropped at river terminals in Toledo, Ohio; Seneca, Illinois, and Davenport, Iowa.
Analysts said there were reports that soybean processors currently have "adequate coverage" for soybeans.
Analysts said shipping terminals in the Pacific Northwest are seeing more business, which is resulting in lower demand at Midwest river terminals.
Basis values are quoted against CBOT futures in cts/bu:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | +10 | + | N | UP 1 | +10 | + | N | UNC | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | |||||||
DES MOINES IA | UNQ | UNC | |||||||
LINCOLN NE | -20 | + | N | UNC | |||||
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | +5 | + | N | UNC | -20 | + | X | NC | |
DECATUR IN | +25 | + | N | DN 10 | |||||
MORRISTOWN IN | +30 | + | N | DN 10 | |||||
LAFAYETTE IN | +10 | + | N | DN 15 | |||||
CEDAR RAPIDS IA | -1 | + | N | UNC | -20 | + | N | DN 5 | |
COUNCIL BLUFFS IA | -20 | + | N | DN 10 | |||||
LINCOLN NE | -35 | + | X | NC | |||||
BLAIR NE | +5 | + | N | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | +10 | + | N | UNC | -50 | + | X | NC | |
SENECA IL | -1 | + | N | DN 1 | -7 | + | N | DN 7 | |
SAVANNA IL | -15 | + | N | UNC | -36 | + | N | UNC | |
DAVENPORT IA | -7 | + | N | UNC | -18 | + | N | DN 5 | |
ETHANOL PLANTS | |||||||||
LINDEN IN | +20 | + | N | UNC | |||||
UNION CITY IN | +40 | + | N | UNC | |||||
ANNAWAN IL | -10 | + | N | UNC | |||||
COUNCIL BLUFFS IA | +0 | + | N | UNC | |||||
SRW WHEAT | |||||||||
TOLEDO OH | -25 | + | N | UNC | |||||
CINCINNATI OH | UNQ | UNC | |||||||
DECATUR IN | -30 | + | 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 Renee Hickman; Editing by Kirsten Donovan)
((renee.hickman@thomsonreuters.com))
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