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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