US Cash Grains-Soy basis steady-firm as harvest pressure eases
CHICAGO, Oct 22 (Reuters) -Basis bids for soybeans were steady to stronger in the U.S. Midwest on Tuesday and corn bids were mixed as the peak harvest period for both crops passed, slowing the movement of grain into marketing channels, spot checks indicated.
* The U.S. soybean harvest was 81% complete and the corn harvest was 65% complete by Sunday, the U.S. Department of Agriculture's weekly crop progress report showed on Monday, both ahead of their respective five-year averages.
* The soybean basis jumped by 15 cents at bushel on Tuesday at Decatur, Illinois, site of a soy processing plant, and by 10 cents at a Toledo, Ohio, terminal.
* The bean basis firmed by 5 cents at Davenport, Iowa, where grain and soy are loaded into barges for shipment on the Mississippi River toward Gulf exporters.
* Soybean values have been strong at the Gulf, in turn supporting the basis at Midwest river elevators, as grain merchants race to ship out a record-large harvest ahead of the U.S. presidential election and fears of renewed trade tensions with top importer China, traders and analysts said. GRA/F
* Midwest corn basis bids were mixed. The basis firmed by 4 cents at a Decatur, Illinois, processor but fell by 8 cents at Davenport, Iowa.
* On the Chicago Board of Trade, December corn futures CZ24 settled up 7 cents at $4.16-1/2 per bushel and November soybeans SX24 ended up 10-3/4 cents at $9.91-3/4 a bushel. Both markets were supported by a series of export deals for U.S. supplies in recent days. GRA/
Basis values are quoted against CBOT futures in cents/bu:
Current | Previous | |||||||
ELEVATORS | Bid | Bid | ||||||
Chicago, Illinois | ||||||||
Corn processors | +0 | + | Z | +0 | + | Z | UNC | |
Corn elevators | -25 | + | Z | -25 | + | Z | UNC | |
Soybean elevators | -20 | + | X | -20 | + | X | UNC | |
Wheat elevators | -10 | + | Z | -10 | + | Z | UNC | |
Wheat processors | -20 | + | Z | -20 | + | Z | UNC | |
Decatur IL corn | -23 | + | Z | -27 | + | Z | UP 4 | |
Decatur IL soybeans | +10 | + | X | -5 | + | X | UP 15 | |
Burns Harbor IN corn | UNQ | UNQ | UNC | |||||
Burns Harbor IN soy | UNQ | UNQ | UNC | |||||
Lafayette IN soy | -25 | + | X | -25 | + | X | UNC | |
Toledo OH (port) | ||||||||
Corn | -35 | + | Z | -35 | + | Z | UNC | |
Soy | -35 | + | X | -45 | + | X | UP 10 | |
SRW wheat | -25 | + | Z | -25 | + | Z | UNC | |
Davenport IA (river) | ||||||||
Corn | -42 | + | Z | -34 | + | Z | DN 8 | |
Soy | -25 | + | X | -30 | + | X | UP 5 | |
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 | -45 | + | Z | -45 | + | Z | UNC | |
Morris IL (river) | ||||||||
Corn | -28 | + | Z | -28 | + | Z | UNC | |
Soybeans | -10 | + | X | -10 | + | X | UNC | |
Fort Worth TX corn | +135 | + | Z | +135 | + | Z | UNC | |
Blair NE corn | -15 | + | Z | -15 | + | Z | UNC | |
Council Bluffs, IA (elevator) | ||||||||
Corn | -25 | + | Z | -25 | + | Z | UNC | |
Soy | -55 | + | X | -55 | + | X | UNC | |
Des Moines IA soy | -40 | + | X | -40 | + | X | UNC | |
Sioux City IA soy | -20 | + | X | -20 | + | 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 Julie Ingwersen; Editing by Stephen Coates
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