US Cash Grains-Corn and soy basis bids mixed as farmers sell
CHICAGO, Aug 7 (Reuters) -Spot basis bids for corn and soybeans were mixed in the U.S. Midwest on Wednesday following a multi-day decline in basis bids as farmers sought to offload old crop while futures lingered near four-year lows.
* Chicago Board of Trade corn and soybean futures turned lower on Wednesday as markets came under pressure from expectations of a U.S. bumper crop, moderate weather in the Midwestern corn belt and sluggish oilseed demand, traders said.
* The corn basis decreased by 2 cents at a Nebraska elevator and increased by 3 cents at an Ohio port and by 3 cents at an elevator.
* The soy basis decreased by 10 cents at an Ohio port.
* The CBOT's most-active corn contract Cv1 ended down 4-1/2 cents at $4.00-3/4 per bushel, while soybeans Sv1 settled down 8 cents at $10.18-3/4 per bushel.
* Traders are shifting attention to the USDA's monthly supply and demand report to be released Aug. 12.
Basis values are quoted against CBOT futures in cents/bu:
Current | Previous | |||||||
ELEVATORS | Bid | Bid | ||||||
Chicago, Illinois | ||||||||
Corn processors | +14 | + | U | +14 | + | U | UNC | |
Corn elevators | -10 | + | U | -10 | + | U | UNC | |
Soybean elevators | +0 | + | U | +0 | + | U | UNC | |
Wheat elevators | -5 | + | U | -5 | + | U | UNC | |
Wheat processors | -10 | + | U | -10 | + | U | UNC | |
Decatur IL corn | -1 | + | Z | +15 | + | U | NC | |
Decatur IL soybeans | +30 | + | X | +30 | + | X | UNC | |
Burns Harbor IN corn | UNQ | UNQ | UNC | |||||
Burns Harbor IN soy | UNQ | UNQ | UNC | |||||
Lafayette IN soy | +55 | + | X | +55 | + | X | UNC | |
Toledo OH (port) | ||||||||
Corn | -27 | + | U | -30 | + | U | UP 3 | |
Soy | +0 | + | X | +10 | + | X | DN 10 | |
SRW wheat | -35 | + | U | -35 | + | U | UNC | |
Davenport IA (river) | ||||||||
Corn | -12 | + | U | -12 | + | U | UNC | |
Soy | -19 | + | X | -12 | + | Q | NC | |
Evansville IN (rail) | ||||||||
15-car CSX corn | -2 | + | U | -2 | + | U | UNC | |
Cincinnati OH (rail) | ||||||||
3-car corn | UNQ | UNQ | UNC | |||||
Hereford TX corn | +140 | + | U | +140 | + | U | UNC | |
Columbus OH (rail) | ||||||||
3-car corn | -9 | + | U | -9 | + | U | UNC | |
Morris IL (river) | ||||||||
Corn | +0 | + | U | +0 | + | U | UNC | |
Soybeans | +20 | + | X | +15 | + | Q | NC | |
Fort Worth TX corn | +140 | + | U | +140 | + | U | UNC | |
Blair NE corn | +25 | + | U | +27 | + | U | DN 2 | |
Council Bluffs, IA (elevator) | ||||||||
Corn | +23 | + | U | +20 | + | U | UP 3 | |
Soy | -5 | + | X | -5 | + | X | UNC | |
Des Moines IA soy | +20 | + | X | +20 | + | X | UNC | |
Sioux City IA soy | +0 | + | X | +0 | + | X | 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
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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 Heather Schlitz
Editing by Marguerita Choy
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