US Cash Grains-Soybean basis mostly steady-firm, corn bids flat

Reuters
21 Mar
US Cash Grains-Soybean basis mostly steady-firm, corn bids flat

CHICAGO, March 20 (Reuters) - Spot basis bids for soybeans were mostly steady to higher on Thursday at U.S. Midwest elevators and mostly unchanged at processing plants as buyers sought to entice fresh sales to bolster supplies, dealers said.

* Spot corn basis bids were mostly unchanged at elevators, ethanol plants and other processors.

* Spot basis values for both commodities have been ticking higher at several locations this week after a slowdown in farmer sales. Growers were discouraged from booking new sales due to low prices and as they focus on spring field work instead.

* Chicago Board of Trade May corn futures CK25 were up 5-1/4 cents at $4.67-1/4 per bushel near midday on Thursday, but the benchmark contract remained well below its late-February peak of $5.18-3/4.

* CBOT May soybeans SK25 were up 3-1/2 cents at $10.11-3/4 a bushel.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

-2

+

K

DN 1

+5

+

K

UP 2

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

UNC

DES MOINES IA

UNQ

UNC

LINCOLN NE

-35

+

K

UNC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

-4

+

K

UNC

+0

+

K

UNC

DECATUR IN

+8

+

K

UNC

MORRISTOWN IN

+5

+

K

UNC

LAFAYETTE IN

+5

+

K

UNC

CEDAR RAPIDS IA

-8

+

K

UNC

-10

+

K

UNC

COUNCIL BLUFFS IA

-30

+

K

UNC

LINCOLN NE

-35

+

K

UNC

BLAIR NE

-12

+

K

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

-5

+

K

UNC

-25

+

K

UNC

SENECA IL

-20

+

K

UNC

-10

+

K

UP 2

SAVANNA IL

-36

+

K

UNC

-48

+

K

UNC

DAVENPORT IA

-25

+

K

UNC

-25

+

K

UNC

ETHANOL PLANTS

LINDEN IN

-8

+

K

UNC

UNION CITY IN

+5

+

K

UNC

ANNAWAN IL

-12

+

K

UNC

COUNCIL BLUFFS IA

-18

+

K

UNC

SRW WHEAT

TOLEDO OH

-35

+

K

UNC

CINCINNATI OH

-30

+

N

UNC

DECATUR IN

-45

+

K

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 in Chicago; Editing by Shreya Biswas)

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

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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