US Cash Grains-Corn basis mixed, soy basis rolls to March futures

ReutersJan 2, 2025 7:25 PM

CHICAGO, Jan 2 (Reuters) - Spot basis bids for corn were mixed in the U.S. Midwest on Thursday, with values softening at ethanol facilities as Chicago Board of Trade corn futures Cv1 hovered near six-month highs, spurring a round of farmer grain sales in recent days.

* But the corn basis firmed at terminal elevators in Cincinnati, Ohio, and Lincoln, Nebraska.

* The U.S. Energy Information Administration said weekly production of corn-based ethanol rose in the latest week to 1.111 million barrels per day, the highest pace in a month, while stockpiles rose to 23.639 million barrels, the most since mid-September. EIA/S

* For soybeans, more locations rolled their basis to the CBOT March soybean contract SH25 as the January futures contract SF25 nears its Jan. 14 expiration.

* Ahead of monthly crush data due from the U.S. Department of Agriculture later on Thursday, analysts surveyed by Reuters on average expected the government to report that U.S. processors crushed 207.6 million bushels of soybeans in November. The figure would be down 3.8% from a record-high 215.8 million bushels crushed in October.

* Corn and soybean futures were modestly higher late in Thursday's trading session, supported by concerns about a drier trend for crop weather in Argentina. GRA/

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

ELEVATORS
	CORN				SOYBEANS
CINCINNATI OH	+0	+	H	UP 4	+5	+	H	NC
BURNS HARBOR IN	UNQ			UNC	UNQ			UNC
DECATUR IN	UNQ			UNC
DES MOINES IA					UNQ			UNC
LINCOLN NE	-22	+	H	UP 3

PROCESSORS
	CORN				SOYBEANS
DECATUR IL	+2	+	H	UNC	-4	+	H	UNC
DECATUR IN					+8	+	H	UNC
MORRISTOWN IN					+0	+	H	UNC
LAFAYETTE IN					-5	+	H	NC
CEDAR RAPIDS IA	-15	+	H	UNC	-20	+	H	NC
COUNCIL BLUFFS IA					-20	+	H	UNC
LINCOLN NE					-23	+	F	UP 2
BLAIR NE	-8	+	H	UNC

RIVER TERMINALS
	CORN				SOYBEANS
TOLEDO OH	-20	+	H	UNC	-20	+	H	UNC
SENECA IL	-11	+	H	UNC	-10	+	H	NC
SAVANNA IL	-26	+	H	UNC	-39	+	F	UNC
DAVENPORT IA	-18	+	H	UNC	-23	+	H	NC

ETHANOL PLANTS
LINDEN IN	-12	+	H	DN 2
UNION CITY IN	+3	+	H	UNC
ANNAWAN IL	-12	+	H	DN 4
COUNCIL BLUFFS IA	-12	+	H	UNC

SRW WHEAT
TOLEDO OH	-20	+	H	UP 10
CINCINNATI OH	UNQ			UNC
DECATUR IN	-45	+	N	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 = 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 Rod Nickel)

((Julie.ingwersen@thomsonreuters.com; 1-313-484-5283; Reuters Messaging: julie.ingwersen.thomsonreuters.com@reuters.net))

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