US Cash Grains-Soybean bids mixed as futures gain

Reuters
Jun 18
US Cash Grains-Soybean bids mixed as futures gain

CHICAGO, June 17 (Reuters) - Spot basis bids for U.S. soybeans and corn were mixed in the U.S. Midwest on Tuesday, dealers said.

  • The soy basis declined at an Iowa river terminal and increased at an Illinois river terminal.

  • The corn basis increased at a Chicago processor, decreased at an Iowa river terminal and rose at an Iowa elevator.

  • Chicago Board of Trade soybean futures closed higher on Tuesday, supported by rising crude oil prices and uncertainty about Midwest crop weather in the weeks ahead, while soyoil prices eased following a sharp two-day rally tied to stronger U.S. biofuel blending mandates.

  • Strength in energy markets supported corn and soybeans, given the crops' role in the production of biofuels. U.S. crude oil prices climbed 4% as the Iran-Israel conflict raged with no end in sight, though major oil and gas infrastructure and flows have so far been spared from substantial impact.

  • CBOT July soybeans SN25 settled up 4-1/4 cents at $10.74 per bushel.

  • CBOT July corn CN25 settled down 3-1/4 cents at $4.31-1/2 a bushel.

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

Current

Previous

Bid

Bid

Chicago, Illinois

Corn processors

+18

+

N

+15

+

N

UP 3

Corn elevators

+30

+

N

+30

+

N

UNC

Soybean elevators

-5

+

N

-5

+

N

UNC

Wheat elevators

+0

+

N

+0

+

N

UNC

Wheat processors

-20

+

N

-20

+

N

UNC

Decatur IL corn

+8

+

N

+8

+

N

UNC

Decatur IL soybeans

-20

+

X

-20

+

X

UNC

Burns Harbor IN corn

UNQ

UNQ

UNC

Burns Harbor IN soy

UNQ

UNQ

UNC

Lafayette IN soy

-5

+

N

-5

+

N

UNC

Toledo OH (port)

Corn

+10

+

N

+10

+

N

UNC

Soy

-50

+

X

-50

+

X

UNC

SRW wheat

-25

+

N

-25

+

N

UNC

Davenport IA (river)

Corn

-11

+

N

-9

+

N

DN 2

Soy

-28

+

N

-22

+

N

DN 6

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

-1

+

N

-1

+

N

UNC

Soybeans

-5

+

N

-9

+

N

UP 4

Fort Worth TX corn

+120

+

N

+120

+

N

UNC

Blair NE corn

+6

+

N

+6

+

N

UNC

Council Bluffs, IA (elevator)

Corn

+2

+

N

+0

+

N

UP 2

Soy

-25

+

X

-18

+

X

DN 7

Des Moines IA soy

-30

+

X

-30

+

X

UNC

Sioux City IA soy

-15

+

N

-15

+

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 Heather Schlitz, editing by Deepa Babington)

((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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