US Cash Grains-Corn basis bids rise as futures fall

Reuters
Feb 03
US Cash Grains-Corn basis bids rise as futures fall

.

CHICAGO, Feb 2 (Reuters) - Spot basis bids for corn were mostly steady to higher in the U.S. Midwest on Monday as futures ticked lower under pressure from a slumping overall commodities market and a rising U.S. dollar.

  • Extreme cold weather conditions slowed grain sales last week and falling futures gave farmers little incentive to sell.

  • The corn basis rose at an elevator in Lincoln, Nebraska, a processor in Decatur, Illinois, a river terminal in Seneca, Illinois and ethanol plants in Union City, Indiana, Annawan, Illinois and Council Bluffs, Iowa.

  • The soybean basis fell at an elevator in Cincinnati, Ohio and river terminals in Seneca, Illinois and Savanna, Illinois.

  • At 1:03 p.m. CST (1903 GMT) Chicago Board of Trade March corn futures CH26 fell 2-1/2 cents to $4.25-3/4 a bushel. CBOT March soybeans SH26 were down 4 cents to $10.60-1/4 a bushel. GRA/

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+5

+

H

DN 2

+11

+

H

DN 2

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

H

UNC

UNQ

H

UNC

DES MOINES IA

UNQ

UNC

UNQ

UNC

LINCOLN NE

-37

+

H

UP 5

-55

+

H

UNC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

+5

+

H

UP 2

+12

+

H

UNC

DECATUR IN

+10

+

H

UNC

MORRISTOWN IN

+10

+

H

UNC

LAFAYETTE IN

+10

+

H

UNC

CEDAR RAPIDS IA

-12

+

H

UNC

-30

+

H

UNC

COUNCIL BLUFFS IA

-40

+

H

UNC

LINCOLN NE

-35

+

H

UNC

BLAIR NE

-10

+

H

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

+10

+

H

UNC

-10

+

H

UNC

SENECA IL

-8

+

H

UP 2

-10

+

H

DN 2

SAVANNA IL

-19

+

H

UNC

-46

+

H

UP 5

DAVENPORT IA

-10

+

H

UNC

-16

+

H

UNC

ETHANOL PLANTS

LINDEN IN

+0

+

H

UNC

UNION CITY IN

+22

+

H

UP 2

ANNAWAN IL

-6

+

H

UP 4

COUNCIL BLUFFS IA

-14

+

H

UP 4

SRW WHEAT

TOLEDO OH

-5

+

H

UNC

CINCINNATI OH

UNQ

UNC

DECATUR IN

-25

+

H

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 Diane Craft)

((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.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10