US Cash Grains-Corn bids mostly flat, futures fall

Reuters
Jun 10
US Cash Grains-Corn bids mostly flat, futures fall

CHICAGO, June 9 (Reuters) - Spot basis bids for U.S. corn were mostly steady to higher at grain elevators, processing plants and river terminals in the U.S. Midwest on Monday, a spot check showed, as futures sagged.

  • The corn basis rose by 2 cents at a river terminal in Davenport, Iowa.

  • Every other location in a spot check was unchanged for both corn and soybean basis bids.

  • A mild, showery weather pattern is forecast in the U.S. Midwest in the coming days, according to Commodity Weather Group.

  • The U.S. Department of Agriculture's weekly crop progress report said 71% of the country's corn crop was in good to excellent condition as of Sunday, up from 69% the week prior and slightly above the average estimate in a Reuters survey of analysts.

  • Benign weather has provided ideal conditions for crop development in the region.

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

Bid

Bid

Chicago, Illinois

Corn processors

+12

+

N

+12

+

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

-20

+

N

-20

+

N

UNC

Decatur IL corn

+5

+

N

+5

+

N

UNC

Decatur IL soybeans

+22

+

N

+22

+

N

UNC

Burns Harbor IN corn

UNQ

UNQ

UNC

Burns Harbor IN soy

UNQ

UNQ

UNC

Lafayette IN soy

+25

+

N

+25

+

N

UNC

Toledo OH (port)

Corn

+15

+

N

+15

+

N

UNC

Soy

+10

+

N

+10

+

N

UNC

SRW wheat

-35

+

N

-35

+

N

UNC

Davenport IA (river)

Corn

-7

+

N

-9

+

N

UP 2

Soy

-13

+

N

-13

+

N

UNC

Evansville IN (rail)

15-car CSX corn

+27

+

N

+27

+

N

UNC

Cincinnati OH (rail)

3-car corn

UNQ

UNQ

UNC

Hereford TX corn

+120

+

N

+120

+

N

UNC

Columbus OH (rail)

3-car corn

+34

+

N

+34

+

N

UNC

Morris IL (river)

Corn

+0

+

N

+0

+

N

UNC

Soybeans

+0

+

N

+0

+

N

UNC

Fort Worth TX corn

+120

+

N

+120

+

N

UNC

Blair NE corn

+5

+

N

+5

+

N

UNC

Council Bluffs, IA (elevator)

Corn

+0

+

N

+0

+

N

UNC

Soy

-25

+

N

-25

+

N

UNC

Des Moines IA soy

-10

+

N

-10

+

N

UNC

Sioux City IA soy

-10

+

N

-10

+

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 Renee Hickman in Chicago; Editing by David Gregorio)

((renee.hickman@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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