CHICAGO, July 17 (Reuters) - Spot basis bids for corn delivered to U.S. Midwest elevators and processing plants were flat to lower on Thursday on generally slow demand, while soybean basis bids were mostly unchanged.
An elevator in Cincinnati, Ohio, cut its spot corn basis bid by 7 cents a bushel and a river elevator in Seneca, Illinois, lowered its spot corn bid by a nickel. Basis bids at corn ethanol plants were flat to down 5 cents a bushel.
In one exception to the corn market's weak tone, a processor in Cedar Rapids, Iowa, raised its spot basis bid by 5 cents a bushel for grain delivered in the second week of this month to draw out immediate supplies. Its bid for grain delivered in the third week was 6 cents below the spot bid.
Chicago Board of Trade corn futures slumped on Thursday after U.S. corn export sales last week fell well short of market expectations. A possible shift by Coca-Cola away from high fructose corn syrup in its drinks stoked further demand concerns.
CBOT September corn futures CU25 were down 4 cents at $4.01-1/4 a bushel at 1 p.m. CDT (1800 GMT), while new-crop December corn CZ25 was down 3-1/4 cents at $4.20-3/4 a bushel.
CBOT August soybean futures SQ25 were up 7 cents at $10.20-1/2 per bushel. New-crop November soybeans SX25 were up 6 cents at $10.26-1/2 a bushel.
Basis values are quoted against CBOT futures in cts/bu:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | +20 | + | U | DN 7 | +26 | + | Q | DN 1 | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | |||||||
DES MOINES IA | UNQ | UNC | |||||||
LINCOLN NE | -5 | + | U | UNC | |||||
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | +18 | + | U | UNC | +20 | + | X | UNC | |
DECATUR IN | +10 | + | X | UNC | |||||
MORRISTOWN IN | +25 | + | X | UNC | |||||
LAFAYETTE IN | +20 | + | X | UNC | |||||
CEDAR RAPIDS IA | +7 | + | U | UP 5 | -10 | + | X | UNC | |
COUNCIL BLUFFS IA | -5 | + | X | UNC | |||||
LINCOLN NE | -20 | + | X | UNC | |||||
BLAIR NE | +10 | + | U | DN 2 | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | +10 | + | U | UNC | -50 | + | X | UNC | |
SENECA IL | +0 | + | U | DN 5 | +0 | + | Q | UNC | |
SAVANNA IL | -11 | + | U | UNC | -35 | + | Q | UNC | |
DAVENPORT IA | -5 | + | U | UNC | -10 | + | Q | UNC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | +25 | + | U | DN 5 | |||||
UNION CITY IN | +55 | + | U | UNC | |||||
ANNAWAN IL | -2 | + | U | DN 2 | |||||
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 Editing by Sandra Maler)
((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.