CHICAGO, July 14 (Reuters) - Spot basis bids for corn delivered to U.S. Midwest processors and river terminals were mostly steady to weaker on Monday, while basis bids at soy processing plants were mostly flat to lower.
A large soy processor in Decatur, Illinois, cut its spot soybean basis bid by 10 cents a bushel on Monday. Other processors left bids unchanged.
The National Oilseed Processors Association is due to release its monthly crush report on Tuesday. Analysts polled by Reuters expect, on average, for the June crush to slip to 185.195 million bushels, a four-month low.
Farmer sales of corn and soybeans remained limited on Monday morning as cash prices remain below many growers' break-even levels, grain merchants said.
Crop prospects remain high for U.S. farmers as much of the Midwest farm belt has been warm with favorable rains this summer. The U.S. Department of Agriculture, in its weekly crop conditions report, is expected to hold its corn rating steady at the highest point for mid-July since 2018. Soy conditions were seen rising by a point.
Chicago Board of Trade December corn futures CZ25 touched a new contract low of $4.07-1/2 per bushel during overnight trading. The benchmark contract was up 2-3/4 cents at $4.15 a bushel at 12:27 p.m. CDT (1727 GMT).
CBOT November soybean futures SX25 were down 3/4 cent at $10.06-1/2 per bushel.
Basis values are quoted against CBOT futures in cts/bu:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | +26 | + | U | UNC | +25 | + | Q | UP 2 | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | |||||||
DES MOINES IA | UNQ | UNC | |||||||
LINCOLN NE | -10 | + | U | UNC | |||||
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | +18 | + | U | UNC | +15 | + | X | DN 10 | |
DECATUR IN | +10 | + | X | UNC | |||||
MORRISTOWN IN | +25 | + | X | UNC | |||||
LAFAYETTE IN | +20 | + | X | UNC | |||||
CEDAR RAPIDS IA | +0 | + | U | DN 1 | -15 | + | X | UNC | |
COUNCIL BLUFFS IA | -5 | + | X | UNC | |||||
LINCOLN NE | -10 | + | X | UNC | |||||
BLAIR NE | +15 | + | U | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | +10 | + | U | UNC | -50 | + | X | UNC | |
SENECA IL | +6 | + | U | DN 4 | -2 | + | Q | UNC | |
SAVANNA IL | -11 | + | U | UNC | -35 | + | Q | UNC | |
DAVENPORT IA | +0 | + | U | DN 1 | -9 | + | Q | UNC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | +25 | + | U | UNC | |||||
UNION CITY IN | +55 | + | U | UNC | |||||
ANNAWAN IL | +0 | + | U | UNC | |||||
COUNCIL BLUFFS IA | +10 | + | U | UNC | |||||
SRW WHEAT | |||||||||
TOLEDO OH | -29 | + | U | UNC | |||||
CINCINNATI OH | -22 | + | U | UNC | |||||
DECATUR IN | -25 | + | U | 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
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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 Shreya Biswas)
((karl.plume@thomsonreuters.com; +1 313 484 5285))