US Cash Grains-Soybean basis steady to lower at processors

ReutersJan 15, 2025 10:43 PM

CHICAGO, Jan 15 (Reuters) - Basis bids for soybeans were mostly flat to lower at processing locations around the U.S. Midwest on Wednesday, following several days of increased farmer selling.

The soybean basis fell by 10 cents at a processor in Decatur, Illinois.

The corn basis lost 3 cents at a river terminal in Toledo, Ohio, but gained 3 cents at another river terminal in Morris, Illinois.

A report from the National Oilseed Processors Association (NOPA) said its members, who account for at least 95% of U.S.-processed soybeans, crushed 206.604 million bushels of the oilseed last month, a record amount.

The market was still digesting the U.S. Department of Agriculture's January supply and demand report released the previous week, which pushed corn and soybean futures to multi-month highs on its trimmed U.S. crop estimates.

CBOT benchmark corn futures Cv1 settled up 4-1/4 cents at $4.78-3/4 per bushel, staying underneath Tuesday's high of $4.79-3/4, the highest on a continuous chart of the most-active corn contract since December 2023.

CBOT March soybeans SH25 settled down 4-3/4 cents at $10.42-3/4 per bushel, backing down from Tuesday's three-month peak of $10.64.

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

	Current			Previous
ELEVATORS	Bid			Bid
Chicago, Illinois
Corn processors	-2	+	H	-2	+	H	UNC
Corn elevators	-5	+	H	-5	+	H	UNC
Soybean elevators	-10	+	H	-10	+	H	UNC
Wheat elevators	+5	+	H	+5	+	H	UNC
Wheat processors	+5	+	H	+5	+	H	UNC
Decatur IL corn	+0	+	H	+0	+	H	UNC
Decatur IL soybeans	-5	+	H	+5	+	H	DN 10
Burns Harbor IN corn	UNQ			UNQ			UNC
Burns Harbor IN soy	UNQ			UNQ			UNC
Lafayette IN soy	-10	+	H	-10	+	H	UNC
Toledo OH (port)
Corn	-23	+	H	-20	+	H	DN 3
Soy	-22	+	H	-22	+	H	UNC
SRW wheat	-30	+	H	-30	+	H	UNC
Davenport IA (river)
Corn	-28	+	H	-28	+	H	UNC
Soy	-25	+	H	-25	+	H	UNC
Evansville IN (rail)
15-car CSX corn	UNQ			UNQ			UNC
Cincinnati OH (rail)
3-car corn	UNQ			UNQ			UNC
Hereford TX corn	+130	+	H	+130	+	H	UNC
Columbus OH (rail)
3-car corn	+11	+	H	+11	+	H	UNC
Morris IL (river)
Corn	-14	+	H	-17	+	H	UP 3
Soybeans	-10	+	H	-10	+	H	UNC
Fort Worth TX corn	+130	+	H	+130	+	H	UNC
Blair NE corn	-14	+	H	-14	+	H	UNC
Council Bluffs, IA (elevator)
Corn	-13	+	H	-13	+	H	UNC
Soy	-42	+	H	-42	+	H	UNC
Des Moines IA soy	-30	+	H	-30	+	H	UNC
Sioux City IA soy	-35	+	H	-35	+	H	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 Renee Hickman; Editing by Jamie Freed)

((renee.hickman@thomsonreuters.com))

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