US Cash Grains-Spot soybean, corn bids mixed as farmers wrap up planting

Reuters
29 May
US Cash Grains-Spot soybean, corn bids mixed as farmers wrap up planting

CHICAGO, May 28 (Reuters) - Spot soybean basis bids were mixed in the U.S. Midwest on Wednesday as farmers finished with planting began to sell their product, while farmers in other areas focused on seeding their remaining corn and soy crop.

  • Soy bids ticked down at an Ohio elevator and rose at an Illinois river terminal.

  • Corn bids increased at an Illinois river terminal and were steady elsewhere, spot checks showed.

  • The U.S. Department of Agriculture's Tuesday crop progress report showed 68% of the U.S. corn crop as good to excellent in its first condition ratings for the 2025 season, well below the average estimate of 73% in a Reuters analyst poll.

  • Soybean planting was 76% complete, behind the average estimate in the Reuters poll of 78%. The USDA's figure was up from 66% a week ago and well ahead of the five-year average of 68%. The government expects to release soybean condition ratings starting with next week's report.

  • CBOT July corn futures CN25 were last down 7-3/4 cents at $4.51-3/4 per bushel and July soybean futures SN25 were down 11-3/4 cents at $10.50-3/4 per bushel.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+10

+

N

UNC

+2

+

N

DN 1

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

UNC

DES MOINES IA

UNQ

UNC

LINCOLN NE

-25

+

N

UNC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

+4

+

N

UNC

+15

+

N

UNC

DECATUR IN

+35

+

N

UNC

MORRISTOWN IN

+35

+

N

UNC

LAFAYETTE IN

+30

+

N

UNC

CEDAR RAPIDS IA

-1

+

N

UNC

-20

+

N

UNC

COUNCIL BLUFFS IA

-10

+

N

UNC

LINCOLN NE

-10

+

N

UNC

BLAIR NE

+2

+

N

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

+7

+

N

UNC

+10

+

N

UNC

SENECA IL

+1

+

N

UP 7

-5

+

N

UP 2

SAVANNA IL

-25

+

N

UNC

-46

+

N

UNC

DAVENPORT IA

-7

+

N

UNC

-20

+

N

UNC

ETHANOL PLANTS

LINDEN IN

+15

+

N

UNC

UNION CITY IN

+34

+

N

UNC

ANNAWAN IL

-18

+

N

UNC

COUNCIL BLUFFS IA

+0

+

N

UNC

SRW WHEAT

TOLEDO OH

-35

+

N

UNC

CINCINNATI OH

UNQ

UNC

DECATUR IN

-50

+

N

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 Heather Schlitz in ChicagoEditing by Matthew Lewis)

((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.

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