US Cash Grains-Corn, soy basis mostly steady amid slow sales

Reuters
08 Apr
US Cash Grains-Corn, soy basis mostly steady amid slow sales

CHICAGO, April 7 (Reuters) - Spot basis bids for soybeans and corn were mostly steady in the U.S. Midwest on Monday as farmer sales remained slow and industry players weighed tariff threats, dealers said.

* The soy basis ticked down at an Ohio elevator. The wheat basis rose at the same elevator, and the corn basis rose at a Nebraska elevator.

* Heavy rain continued to fall in the U.S. Ohio Valley and northern Delta, where extensive flooding already occurred, stalling corn planting, according to weather forecaster Maxar.

* Stronger soy crush margins have improved demand for soybeans from processors, but Chinese tariffs on U.S. agricultural goods will likely decrease demand for U.S. soy products from the world's largest soy buyer.

* Brazil's center-south soybean harvest for the 2024/25 season hit 87% of the planted area as of Thursday, up 11.5% versus the previous year, agribusiness consultancy AgRural said on Monday.

* Trump said he would impose an additional 50% duty on U.S. imports from China on Wednesday if the world's No. 2 economy did not withdraw the 34% tariffs it had imposed on U.S. products last week.

* CBOT May soybean futures SK25 climbed 6 cents to end at $9.83 a bushel. The contract earlier hit new lows not seen since Dec. 19.

* May corn futures CK25 closed up 4-1/4 cents at $4.64-1/2 a bushel.

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

Current

Previous

ELEVATORS

Bid

Bid

Chicago, Illinois

Corn processors

+5

+

K

+5

+

K

UNC

Corn elevators

-10

+

K

-10

+

K

UNC

Soybean elevators

-10

+

K

-10

+

K

UNC

Wheat elevators

+0

+

K

+0

+

K

UNC

Wheat processors

-5

+

K

-5

+

K

UNC

Decatur IL corn

+1

+

K

+1

+

K

UNC

Decatur IL soybeans

+6

+

K

+6

+

K

UNC

Burns Harbor IN corn

UNQ

UNQ

UNC

Burns Harbor IN soy

UNQ

UNQ

UNC

Lafayette IN soy

+10

+

K

+10

+

K

UNC

Toledo OH (port)

Corn

+0

+

K

+0

+

K

UNC

Soy

-10

+

K

-5

+

K

DN 5

SRW wheat

-35

+

K

-40

+

K

UP 5

Davenport IA (river)

Corn

-25

+

K

-25

+

K

UNC

Soy

-30

+

K

-30

+

K

UNC

Evansville IN (rail)

15-car CSX corn

UNQ

UNQ

UNC

Cincinnati OH (rail)

3-car corn

UNQ

UNQ

UNC

Hereford TX corn

+130

+

K

+130

+

K

UNC

Columbus OH (rail)

3-car corn

+25

+

K

+25

+

K

UNC

Morris IL (river)

Corn

-17

+

K

-17

+

K

UNC

Soybeans

-15

+

K

-15

+

K

UNC

Fort Worth TX corn

+130

+

K

+130

+

K

UNC

Blair NE corn

-8

+

K

-10

+

K

UP 2

Council Bluffs, IA (elevator)

Corn

-10

+

K

-10

+

K

UNC

Soy

-30

+

K

-30

+

K

UNC

Des Moines IA soy

-25

+

K

-25

+

K

UNC

Sioux City IA soy

-15

+

K

-15

+

K

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

---------------------------------------------------------

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 Heather Schlitz; Editing by Lisa Shumaker)

((Heather.Schlitz@thomsonreuters.com;))

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.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10