CHICAGO, June 13 (Reuters) - Spot basis bids for U.S. soybeans were steady to weaker at elevators, processors and river terminals in the U.S. Midwest on Friday after a week in which ADM facilities slashed their soybean basis bids and other locations followed their lead.
Archer-Daniels-Midland, a major U.S. soybean crusher and biofuel producer, slashed its bids to buy the oilseed this week ahead of an expected Trump administration announcement on biofuel blending requirements, a primary driver of demand for soybean oil.
U.S. soyoil futures surged to their daily limit on Friday and soybeans hit a three-week high after President Donald Trump's administration proposed biofuel blending requirements that were above trade expectations, analysts said.
The U.S. Environmental Protection Agency proposed total biofuel blending volumes at 24.02 billion gallons in 2026 and 24.46 billion gallons in 2027, up from 22.33 billion gallons in 2025.
The soybean basis fell at a grain elevator in the Chicago, Illinois area, a processor in Lafayette, Indiana, and a river terminal in Toledo, Ohio, among other locations.
CBOT July soybeans SN25 settled up 27-1/2 cents, or 2.6%, at $10.69-3/4 per bushel and new-crop November soybeans SX25 rose 27-1/2 cents to end at $10.54-3/4 a bushel.
CBOT July corn CN25 settled up 6 cents at $4.44-1/2 per bushel.
Basis values are quoted against CBOT futures in cents/bu:
Current | Previous | |||||||
Bid | Bid | |||||||
Chicago, Illinois | ||||||||
Corn processors | +15 | + | N | +15 | + | N | UNC | |
Corn elevators | +30 | + | N | +30 | + | N | UNC | |
Soybean elevators | -5 | + | N | +0 | + | N | DN 5 | |
Wheat elevators | +0 | + | N | +0 | + | N | UNC | |
Wheat processors | -20 | + | N | -20 | + | N | UNC | |
Decatur IL corn | +5 | + | N | +5 | + | N | UNC | |
Decatur IL soybeans | -20 | + | X | -20 | + | X | UNC | |
Burns Harbor IN corn | UNQ | UNQ | UNC | |||||
Burns Harbor IN soy | UNQ | UNQ | UNC | |||||
Lafayette IN soy | -5 | + | N | +5 | + | N | DN 10 | |
Toledo OH (port) | ||||||||
Corn | +15 | + | N | +15 | + | N | UNC | |
Soy | -5 | + | N | +5 | + | N | DN 10 | |
SRW wheat | -35 | + | N | -35 | + | N | UNC | |
Davenport IA (river) | ||||||||
Corn | -9 | + | N | -9 | + | N | UNC | |
Soy | -22 | + | N | -18 | + | N | DN 4 | |
Evansville IN (rail) | ||||||||
15-car CSX corn | +27 | + | N | +27 | + | N | UNC | |
Cincinnati OH (rail) | ||||||||
3-car corn | UNQ | UNQ | UNC | |||||
Hereford TX corn | +120 | + | N | +120 | + | N | UNC | |
Columbus OH (rail) | ||||||||
3-car corn | +34 | + | N | +34 | + | N | UNC | |
Morris IL (river) | ||||||||
Corn | -1 | + | N | -1 | + | N | UNC | |
Soybeans | -9 | + | N | -7 | + | N | DN 2 | |
Fort Worth TX corn | +120 | + | N | +120 | + | N | UNC | |
Blair NE corn | +6 | + | N | +6 | + | N | UNC | |
Council Bluffs, IA (elevator) | ||||||||
Corn | +0 | + | N | +0 | + | N | UNC | |
Soy | -15 | + | X | -5 | + | X | DN 10 | |
Des Moines IA soy | -30 | + | X | -30 | + | X | UNC | |
Sioux City IA soy | -15 | + | N | -15 | + | 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 Renee Hickman in Chicago; editing by Diane Craft)
((renee.hickman@thomsonreuters.com))
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