US Cash Grains-Soy, corn basis bids rise at interior and river facilities

Reuters
02 Jun
US Cash Grains-Soy, corn basis bids rise at interior and river facilities

CHICAGO, June 2 (Reuters) - Spot soybean and corn basis bids rose at some river terminals and interior grain facilities in the U.S. Midwest on Monday, spot checks showed.

  • Farmers are finishing up plantings of both crops and been selling relatively minimal amounts as the growing season gets underway, grain dealers said.

  • Widespread rain is expected to benefit dry areas of the Midwest this week, forecaster Commodity Weather Group said.

  • The U.S. Department of Agriculture is slated to issue its first crop ratings of the year for soybeans and to update its ratings for the corn crop in a weekly report due at 3 p.m. CDT (2000 GMT).

  • The U.S. soybean crush likely hit 6.055 million short tons in April, or 201.8 million bushels, analysts said ahead of a monthly USDA report at 2 p.m. CDT (1900 GMT). If realized, the crush would be down 2.3% from March, but up 13.7% from April 2024.

  • Soybean futures Sv1 touched their lowest price since April 17 at the Chicago Board of Trade.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+10

+

N

UNC

+7

+

N

UP 3

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

+5

+

N

UP 1

+20

+

N

UP 5

DECATUR IN

+35

+

N

UNC

MORRISTOWN IN

+35

+

N

UNC

LAFAYETTE IN

+30

+

N

UNC

CEDAR RAPIDS IA

-1

+

N

UNC

-15

+

N

UP 5

COUNCIL BLUFFS IA

-10

+

N

UNC

LINCOLN NE

-10

+

N

UNC

BLAIR NE

+2

+

N

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

+10

+

N

UP 3

+15

+

N

UP 5

SENECA IL

+1

+

N

UNC

-5

+

N

UNC

SAVANNA IL

-18

+

N

UP 3

-36

+

N

UP 5

DAVENPORT IA

-7

+

N

UNC

-15

+

N

UNC

ETHANOL PLANTS

LINDEN IN

+15

+

N

UNC

UNION CITY IN

+34

+

N

UNC

ANNAWAN IL

-10

+

N

UP 8

COUNCIL BLUFFS IA

+0

+

N

UNC

SRW WHEAT

TOLEDO OH

-25

+

N

UP 10

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 Tom Polansek; Editing by Shailesh Kuber)

((Thomas.Polansek@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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