US Cash Grains-Corn, soybean basis steady-to-higher on slow farmer sales

Reuters
02 Apr
US Cash Grains-Corn, soybean basis steady-to-higher on slow farmer sales

CHICAGO, April 1 (Reuters) - Spot basis bids for corn and soybeans were steady-to-higher at U.S. Midwest processing plants and river elevators on Tuesday on slow farmer sales, while bids at interior elevators were mostly flat, grain merchants said.

* Chicago Board of Trade corn and soybean futures climbed on Tuesday, but farmer selling remained minimal as prices remain near recent lows. Many growers are also focused on spring planting preparations instead of on marketing grain.

* The U.S. Department of Agriculture on Monday projected a larger-than-expected increase in U.S. corn acreage in 2025 while soybean plantings were seen down from last year.

* Markets remain in edge ahead of the expected announcement by the Trump Administration of broad tariffs on imports into the United States. The tariffs are expected to trigger retaliatory trade actions that are likely to target U.S. agricultural goods.

* CBOT May corn CK25 was up 4-3/4 cents near midday on Tuesday at $4.62 a bushel while May soybeans SK25 were up 16-1/4 cents at $10.31 a bushel.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+9

+

K

UP 3

+4

+

K

DN 1

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

UNC

DES MOINES IA

UNQ

UNC

LINCOLN NE

-40

+

K

DN 5

PROCESSORS

CORN

SOYBEANS

DECATUR IL

+1

+

K

UP 7

+6

+

K

UNC

DECATUR IN

+15

+

K

UP 5

MORRISTOWN IN

+10

+

K

UNC

LAFAYETTE IN

+10

+

K

UP 5

CEDAR RAPIDS IA

+2

+

K

UNC

-10

+

K

UNC

COUNCIL BLUFFS IA

-25

+

K

UNC

LINCOLN NE

-25

+

K

UP 10

BLAIR NE

-10

+

K

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

-2

+

K

UNC

-10

+

K

UP 5

SENECA IL

-17

+

K

UNC

-10

+

K

UNC

SAVANNA IL

-26

+

K

UP 5

-36

+

K

UP 5

DAVENPORT IA

-25

+

K

UNC

-25

+

K

UNC

ETHANOL PLANTS

LINDEN IN

+0

+

K

UNC

UNION CITY IN

+13

+

K

UP 3

ANNAWAN IL

-8

+

K

UNC

COUNCIL BLUFFS IA

-10

+

K

UNC

SRW WHEAT

TOLEDO OH

-35

+

K

UNC

CINCINNATI OH

-30

+

N

NC

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; Editing by Krishna Chandra Eluri)

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

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