US Cash Grains-Corn, soy basis mixed as frigid weather slows grain movement

Reuters
01/30
US Cash Grains-Corn, soy basis mixed as frigid weather slows grain movement

CHICAGO, Jan 29 (Reuters) - Spot basis bids for corn and soybeans were mixed at elevators and processors around the U.S. Midwest on Thursday after scattered farmer sales at midweek and as frigid winter weather slowed grain movement in parts of the country.

  • The corn basis firmed by 3 cents a bushel at a Cincinnati, Ohio, elevator a day after sinking by 8 cents. A corn processor in Blair, Nebraska, cut its spot basis bid by 3 cents. Corn bids firmed by up to 5 cents a bushel at eastern Midwest ethanol plants but held mostly steady in the central and western Midwest.

  • The spot soybean basis bid dipped by 2 cents a bushel at a Cincinnati, Ohio, elevator, but rose by 5 cents at processors in Decatur, Indiana, and in Lafayette, Indiana.

  • Weekly corn and soybean export sales for the week ended January 22 were down from very strong levels in the previous week, although sales were in line with trade estimates.

  • Chicago Board of Trade March corn futures CH26 were up 1/4 cent near midday on Thursday at $4.30-1/4 a bushel. CBOT March soybeans SH26 were down 3 cents at $10.72 a bushel. GRA/

Basis values are quoted against CBOT futures in cts/bu:

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+7

+

H

UP 3

+14

+

H

DN 2

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

H

UNC

UNQ

H

UNC

DES MOINES IA

UNQ

UNC

UNQ

UNC

LINCOLN NE

-42

+

H

UNC

-55

+

H

UNC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

+3

+

H

UNC

+12

+

H

UNC

DECATUR IN

+10

+

H

UP 5

MORRISTOWN IN

+10

+

H

UNC

LAFAYETTE IN

+10

+

H

UP 5

CEDAR RAPIDS IA

-12

+

H

UNC

-30

+

H

UNC

COUNCIL BLUFFS IA

-40

+

H

UNC

LINCOLN NE

-35

+

H

UNC

BLAIR NE

-10

+

H

DN 3

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

+10

+

H

UNC

-10

+

H

UNC

SENECA IL

-10

+

H

UNC

-8

+

H

UNC

SAVANNA IL

-19

+

H

UP 7

-51

+

H

UNC

DAVENPORT IA

-10

+

H

UNC

-16

+

H

UNC

ETHANOL PLANTS

LINDEN IN

+0

+

H

UP 5

UNION CITY IN

+20

+

H

UP 3

ANNAWAN IL

-10

+

H

UNC

COUNCIL BLUFFS IA

-18

+

H

UNC

SRW WHEAT

TOLEDO OH

-5

+

H

UNC

CINCINNATI OH

UNQ

UNC

DECATUR IN

-25

+

H

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 Karl Plume; Editing by Kirsten Donovan)

((karl.plume@thomsonreuters.com; +1 313 484 5285))

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