US Cash Grains-Spot corn basis mostly steady-firm, soybean bids flat-weaker

Reuters
May 23
US Cash Grains-Spot corn basis mostly steady-firm, soybean bids flat-weaker

CHICAGO, May 22 (Reuters) - Spot cash corn basis bids were mostly steady to firm around the U.S. Midwest on Thursday, supported by slow farmer sales, while soybean basis bids were mostly unchanged to slightly lower, crop merchants said.

  • A barge-loading river elevator in Bettendorf, Iowa, raised its spot corn basis bid by 2 cents a bushel, while a river elevator in Morris, Illinois, trimmed its soybean basis bid by 5 cents. The spot bid for rail-delivered corn in Columbus, Ohio, gained 7 cents.

  • Wet soil conditions kept many growers out of their fields on Thursday following early-week storms in the Midwest. Planting has been ahead of normal and a drier weather pattern is forecast through next week. However, rains are expected to sideline farmers around parts of the Ohio River valley.

  • Weekly U.S. corn export sales in the week ended May 15 fell to a three-week low, while soybean sales were the lowest in four weeks, according to U.S. Department of Agriculture data issued on Thursday. EXP/CORN EXP/SOY

  • CBOT July corn futures CN25 settled 2 cents higher on Thursday at $4.63 a bushel, while July soybeans SN25 ended 4-3/4 cents higher at $10.67-1/2 per bushel.

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

Current

Previous

Bid

Bid

Chicago, Illinois

Corn processors

-5

+

N

-5

+

N

UNC

Corn elevators

+20

+

N

+20

+

N

UNC

Soybean elevators

+0

+

N

+0

+

N

UNC

Wheat elevators

+0

+

N

+0

+

N

UNC

Wheat processors

-35

+

N

-35

+

N

UNC

Decatur IL corn

+4

+

N

+4

+

N

UNC

Decatur IL soybeans

+13

+

N

+13

+

N

UNC

Burns Harbor IN corn

UNQ

UNQ

UNC

Burns Harbor IN soy

UNQ

UNQ

UNC

Lafayette IN soy

+30

+

N

+30

+

N

UNC

Toledo OH (port)

Corn

+7

+

N

+7

+

N

UNC

Soy

+10

+

N

+10

+

N

UNC

SRW wheat

-40

+

N

-40

+

N

UNC

Davenport IA (river)

Corn

-7

+

N

-9

+

N

UP 2

Soy

-20

+

N

-20

+

N

UNC

Evansville IN (rail)

15-car CSX corn

UNQ

UNQ

UNC

Cincinnati OH (rail)

3-car corn

UNQ

UNQ

UNC

Hereford TX corn

+120

+

N

+120

+

N

UNC

Columbus OH (rail)

3-car corn

+31

+

N

+24

+

N

UP 7

Morris IL (river)

Corn

+0

+

N

+0

+

N

UNC

Soybeans

-5

+

N

+0

+

N

DN 5

Fort Worth TX corn

+120

+

N

+120

+

N

UNC

Blair NE corn

+6

+

N

+6

+

N

UNC

Council Bluffs, IA (elevator)

Corn

-2

+

N

-2

+

N

UNC

Soy

-25

+

N

-25

+

N

UNC

Des Moines IA soy

-10

+

N

-10

+

N

UNC

Sioux City IA soy

-5

+

N

-5

+

N

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 Karl Plume; Editing by David Gregorio)

((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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