US Cash Grains-Soybean bids sag at processors and river terminals

Reuters
13 Jun
US Cash Grains-Soybean bids sag at processors and river terminals

CHICAGO, June 12 (Reuters) - Spot soybean basis bids were down at U.S. Midwest processors and mostly down at river terminals on Thursday, according to a spot check. ADM locations were dropping their bids as they rolled over the November contract for soybeans, and other facilities followed suit.

Dealers have adequate supply and export demand is being pulled to shipping terminals in the Pacific Northwest, analysts said.

  • The soybean basis lost ground at processors in Decatur, Illinois; Decatur, Indiana; Morristown, Indiana; Lafayette, Indiana and Council Bluffs, Iowa, among others.

  • The soybean basis also dropped at river terminals in Toledo, Ohio; Seneca, Illinois, and Davenport, Iowa.

  • Analysts said there were reports that soybean processors currently have "adequate coverage" for soybeans.

  • Analysts said shipping terminals in the Pacific Northwest are seeing more business, which is resulting in lower demand at Midwest river terminals.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+10

+

N

UP 1

+10

+

N

UNC

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

UNC

DES MOINES IA

UNQ

UNC

LINCOLN NE

-20

+

N

UNC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

+5

+

N

UNC

-20

+

X

NC

DECATUR IN

+25

+

N

DN 10

MORRISTOWN IN

+30

+

N

DN 10

LAFAYETTE IN

+10

+

N

DN 15

CEDAR RAPIDS IA

-1

+

N

UNC

-20

+

N

DN 5

COUNCIL BLUFFS IA

-20

+

N

DN 10

LINCOLN NE

-35

+

X

NC

BLAIR NE

+5

+

N

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

+10

+

N

UNC

-50

+

X

NC

SENECA IL

-1

+

N

DN 1

-7

+

N

DN 7

SAVANNA IL

-15

+

N

UNC

-36

+

N

UNC

DAVENPORT IA

-7

+

N

UNC

-18

+

N

DN 5

ETHANOL PLANTS

LINDEN IN

+20

+

N

UNC

UNION CITY IN

+40

+

N

UNC

ANNAWAN IL

-10

+

N

UNC

COUNCIL BLUFFS IA

+0

+

N

UNC

SRW WHEAT

TOLEDO OH

-25

+

N

UNC

CINCINNATI OH

UNQ

UNC

DECATUR IN

-30

+

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 Renee Hickman; Editing by Kirsten Donovan)

((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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