US Cash Grains-Soybean, corn basis bids mostly steady-weaker
CHICAGO, Oct 1 (Reuters) -Basis bids for soybeans and corn were mostly flat to weaker in the U.S. Midwest on Tuesday as the new month began and harvest activity expanded amid dry weather across much of the crop belt, dealers said.
* The soybean basis fell by 15 cents at a soy processing facility in Lafayette, Indiana, and by 5 cents at a Cedar Rapids, Iowa, crusher. The bean basis fell by 7 cents at Savanna, Illinois, on the Illinois River, but improved by 5 cents at a Toledo, Ohio, terminal.
* For corn, the basis weakened by 20 cents at Davenport, Iowa, where grain is loaded onto barges for shipment on the Mississippi River toward the Gulf. The basis fell by 4 cents at a Cincinnati, Ohio, elevator.
* But corn bids were mixed at processing sites. The basis fell by a dime at a Linden, Indiana, ethanol plant, but firmed by 8 cents at an Annawan, Illinois, ethanol facility. The corn basis improved by a penny at Decatur, Illinois, a major processing site.
* Two locations rolled their basis bids for soft red winter wheat into calendar year 2025 as farmers and merchandisers focused on the ongoing harvest of corn and soybeans.
* The U.S. Department of Agriculture said the U.S. corn harvest was 21% complete by Sunday, behind trade expectations but ahead of the five-year average of 18%. The soybean harvest was 26% complete, ahead of trade expectations and its five-year average, also 18%.
* "Three-quarters of the U.S. corn crop was fully mature by Sept. 29, versus the five-year average of 70%, with recent Midwestern warmth helping to accelerate crop development," the USDA's Office of the Chief Economist said in a daily weather note.
* On the Chicago Board of Trade, corn Cv1 futures firmed and soybeans Sv1 were narrowly mixed while CBOT wheat Wv1 rose more than 2% on worries about dry conditions in Russia. GRA/
Basis values are quoted against CBOT futures in cts/bushel:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | -48 | + | Z | DN 4 | -50 | + | X | UP 1 | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | |||||||
DES MOINES IA | UNQ | UNC | |||||||
LINCOLN NE | -22 | + | Z | UNC | |||||
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | -21 | + | Z | UP 1 | -20 | + | X | UNC | |
DECATUR IN | -38 | + | X | UNC | |||||
MORRISTOWN IN | -40 | + | X | UNC | |||||
LAFAYETTE IN | -45 | + | X | DN 15 | |||||
CEDAR RAPIDS IA | +5 | + | Z | UNC | -55 | + | X | DN 5 | |
COUNCIL BLUFFS IA | -45 | + | X | UNC | |||||
LINCOLN NE | -40 | + | X | UNC | |||||
BLAIR NE | +0 | + | Z | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -55 | + | Z | UNC | -40 | + | X | UP 5 | |
SENECA IL | -42 | + | Z | UNC | -40 | + | X | UNC | |
SAVANNA IL | -31 | + | Z | UNC | -61 | + | X | DN 7 | |
DAVENPORT IA | -60 | + | Z | DN 20 | -65 | + | X | UNC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | -50 | + | Z | DN 10 | |||||
UNION CITY IN | -50 | + | Z | UNC | |||||
ANNAWAN IL | -22 | + | Z | UP 8 | |||||
COUNCIL BLUFFS IA | -25 | + | Z | UNC | |||||
SRW WHEAT | |||||||||
TOLEDO OH | -20 | + | H | NC | |||||
CINCINNATI OH | UNQ | UNC | |||||||
DECATUR IN | -50 | + | N | NC | |||||
BURNS HARBOR IN | UNQ | UNC |
NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted
NC = Not comparable, DPI = 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-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 Julie Ingwersen; editing by Jonathan Oatis
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