US Cash Grains-Corn and soybean basis bids mostly steady to weaker

Reuters
15 Jul
US Cash Grains-Corn and soybean basis bids mostly steady to weaker

CHICAGO, July 14 (Reuters) - Spot basis bids for corn delivered to U.S. Midwest processors and river terminals were mostly steady to weaker on Monday, while basis bids at soy processing plants were mostly flat to lower.

  • A large soy processor in Decatur, Illinois, cut its spot soybean basis bid by 10 cents a bushel on Monday. Other processors left bids unchanged.

  • The National Oilseed Processors Association is due to release its monthly crush report on Tuesday. Analysts polled by Reuters expect, on average, for the June crush to slip to 185.195 million bushels, a four-month low.

  • Farmer sales of corn and soybeans remained limited on Monday morning as cash prices remain below many growers' break-even levels, grain merchants said.

  • Crop prospects remain high for U.S. farmers as much of the Midwest farm belt has been warm with favorable rains this summer. The U.S. Department of Agriculture, in its weekly crop conditions report, is expected to hold its corn rating steady at the highest point for mid-July since 2018. Soy conditions were seen rising by a point.

  • Chicago Board of Trade December corn futures CZ25 touched a new contract low of $4.07-1/2 per bushel during overnight trading. The benchmark contract was up 2-3/4 cents at $4.15 a bushel at 12:27 p.m. CDT (1727 GMT).

  • CBOT November soybean futures SX25 were down 3/4 cent at $10.06-1/2 per bushel.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+26

+

U

UNC

+25

+

Q

UP 2

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

UNC

DES MOINES IA

UNQ

UNC

LINCOLN NE

-10

+

U

UNC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

+18

+

U

UNC

+15

+

X

DN 10

DECATUR IN

+10

+

X

UNC

MORRISTOWN IN

+25

+

X

UNC

LAFAYETTE IN

+20

+

X

UNC

CEDAR RAPIDS IA

+0

+

U

DN 1

-15

+

X

UNC

COUNCIL BLUFFS IA

-5

+

X

UNC

LINCOLN NE

-10

+

X

UNC

BLAIR NE

+15

+

U

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

+10

+

U

UNC

-50

+

X

UNC

SENECA IL

+6

+

U

DN 4

-2

+

Q

UNC

SAVANNA IL

-11

+

U

UNC

-35

+

Q

UNC

DAVENPORT IA

+0

+

U

DN 1

-9

+

Q

UNC

ETHANOL PLANTS

LINDEN IN

+25

+

U

UNC

UNION CITY IN

+55

+

U

UNC

ANNAWAN IL

+0

+

U

UNC

COUNCIL BLUFFS IA

+10

+

U

UNC

SRW WHEAT

TOLEDO OH

-29

+

U

UNC

CINCINNATI OH

-22

+

U

UNC

DECATUR IN

-25

+

U

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 Karl Plume in Chicago; Editing by Shreya Biswas)

((karl.plume@thomsonreuters.com; +1 313 484 5285))

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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