US Cash Grains-Corn basis strengthens as harvest slows
CHICAGO, Nov 1 (Reuters) -Basis bids for corn firmed at processing sites and river elevators in the U.S. Midwest on Friday as the harvest of a bumper crop wound down, slowing the flow of grain into marketing channels.
* Rain showers slowed field work in a few areas this week and forecasts called for a wetter pattern over the next two weeks, following weeks of dry weather that kept combines rolling at full speed across the Corn Belt.
* The U.S. corn harvest was 81% complete and the soybean harvest was 89% done by Oct. 27, both ahead of average, the U.S. Department of Agriculture reported this week, with the government slated to release updated progress numbers on Monday.
* The corn basis rose by as much as 10 cents a bushel on Friday at processing facilities in Chicago and Decatur, Illinois. The basis improved by 4 to 9 cents at grain elevators along the Mississippi and Illinois rivers, where grain is loaded onto barges for shipment toward Gulf export terminals.
* A retreat in barge freight costs this week helped lift the basis at river elevators. Increasing shower activity should help lift low water levels on the Mississippi River, aiding barge movement. BG/US
* Soybean basis bids were mostly steady with a few mixed changes. The river basis improved by 6 cents a bushel at Morris, Illinois, but the basis at a Decatur, Illinois, soy crushing plant fell by a penny.
* Most crushers rolled their basis this week to the Chicago Board of Trade January soybean futures contract SF25 as the November contract SX24 nears its Nov. 14 expiration.
* The USDA reported that U.S. processors crushed 186.5 million bushels of soybeans in September, below an average of trade expectations for 187.4 million bushel. However, the USDA's figure was up 11.3% from the previous month's crush and up 6.7% from a year ago.
* On the CBOT, December corn futures CZ24 settled up 3-3/4 cents on Friday at $4.14-1/2 a bushel, while benchmark January soybeans SF25 ended down 3/4 cent at $9.93-3/4 a bushel. GRA/
Basis values are quoted against CBOT futures in cents/bu:
Current | Previous | |||||||
ELEVATORS | Bid | Bid | ||||||
Chicago, Illinois | ||||||||
Corn processors | +8 | + | Z | +5 | + | Z | UP 3 | |
Corn elevators | -15 | + | Z | -25 | + | Z | UP 10 | |
Soybean elevators | -20 | + | F | -20 | + | X | NC | |
Wheat elevators | +0 | + | Z | -10 | + | Z | UP 10 | |
Wheat processors | +0 | + | Z | -10 | + | Z | UP 10 | |
Decatur IL corn | -10 | + | Z | -16 | + | Z | UP 6 | |
Decatur IL soybeans | +5 | + | F | +6 | + | F | DN 1 | |
Burns Harbor IN corn | UNQ | UNQ | UNC | |||||
Burns Harbor IN soy | UNQ | UNQ | UNC | |||||
Lafayette IN soy | -10 | + | F | +5 | + | X | NC | |
Toledo OH (port) | ||||||||
Corn | -25 | + | Z | -30 | + | Z | UP 5 | |
Soy | -40 | + | F | -40 | + | F | UNC | |
SRW wheat | -25 | + | Z | -25 | + | Z | UNC | |
Davenport IA (river) | ||||||||
Corn | -25 | + | Z | -34 | + | Z | UP 9 | |
Soy | -22 | + | F | -15 | + | X | NC | |
Evansville IN (rail) | ||||||||
15-car CSX corn | UNQ | UNQ | UNC | |||||
Cincinnati OH (rail) | ||||||||
3-car corn | UNQ | UNQ | UNC | |||||
Hereford TX corn | +135 | + | Z | +135 | + | Z | UNC | |
Columbus OH (rail) | ||||||||
3-car corn | -5 | + | Z | -20 | + | Z | UP 15 | |
Morris IL (river) | ||||||||
Corn | -14 | + | Z | -18 | + | Z | UP 4 | |
Soybeans | -6 | + | F | -12 | + | F | UP 6 | |
Fort Worth TX corn | +135 | + | Z | +135 | + | Z | UNC | |
Blair NE corn | -5 | + | Z | -5 | + | Z | UNC | |
Council Bluffs, IA (elevator) | ||||||||
Corn | -25 | + | Z | -25 | + | Z | UNC | |
Soy | -45 | + | F | -45 | + | X | NC | |
Des Moines IA soy | UNQ | UNQ | UNC | |||||
Sioux City IA soy | -10 | + | F | -20 | + | X | NC |
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
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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 Julie Ingwersen; editing by Diane Craft
Berita Terkini
Penafian: Entiti XM Group menyediakan perkhidmatan pelaksanaan sahaja dan akses ke Kemudahan Dagangan Atas Talian, yang membolehkan sesorang melihat dan/atau menggunakan kandungan yang ada di dalam atau melalui laman web, tidak bertujuan untuk mengubah atau memperluas, juga tidak mengubah atau mengembangkannya. Akses dan penggunaan tersebut tertakluk kepada: (i) Terma dan Syarat; (ii) Amaran Risiko; dan Penafian Penuh. Oleh itu, kandungan sedemikian disediakan tidak lebih dari sekadar maklumat umum. Terutamanya, perlu diketahui bahawa kandungan Kemudahan Dagangan Atas Talian bukan permintaan, atau tawaran untuk melakukan transaksi dalam pasaran kewangan. Berdagang dalam mana-mana pasaran kewangan melibatkan tahap risiko yang besar terhadap modal anda.
Semua bahan yang diterbitkan di Kemudahan Dagangan Atas Talian kami bertujuan hanya untuk tujuan pendidikan/maklumat dan tidak mengandungi – dan tidak boleh dianggap mengandungi nasihat kewangan, cukai pelaburan atau dagangan dan cadangan, atau rekod harga dagangan kami, atau tawaran, atau permintaan untuk suatu transaksi dalam sebarang instrumen kewangan atau promosi kewangan yang tidak diminta kepada anda.
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