US Cash Grains-Corn and soy basis bids mostly steady

ReutersJan 16, 2025 4:30 PM

CHICAGO, Jan 16 (Reuters) - Spot basis bids for corn and soy were mostly flat at elevators, river terminals, ethanol plants other types of processors around the U.S. Midwest on Thursday after a week of revived farmer sales, a spot check showed.

Corn and soy futures fell back after hitting multi-month highs earlier in the week, following a U.S. Department of Agriculture report on Friday that showed crop estimates lower than trade expectations. Farmer sales picked up, curbing the rally, according to analysts.

The spot basis for soybeans fell at a processor in Council Bluffs, Iowa and rose at another processing location in Lafayette, Indiana.

The corn basis rose at an ethanol plant in Linden, Indiana.

Soybean futures Sv1 were down 19-3/4 cents at $10.23 a bushel at 10:06 a.m. CST (1606 GMT).

Corn futures Cv1 fell 4-1/4 cents to $4.74-1/2 per bushel, but hit highs near the multi-month peak reached on Tuesday.

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

ELEVATORS
	CORN				SOYBEANS
CINCINNATI OH	-1	+	H	UNC	+8	+	H	UNC
BURNS HARBOR IN	UNQ			UNC	UNQ			UNC
DECATUR IN	UNQ			UNC
DES MOINES IA					UNQ			UNC
LINCOLN NE	-30	+	H	UNC

PROCESSORS
	CORN				SOYBEANS
DECATUR IL	+0	+	H	UNC	-5	+	H	UNC
DECATUR IN					+0	+	H	UNC
MORRISTOWN IN					-10	+	H	UNC
LAFAYETTE IN					+0	+	H	UP 10
CEDAR RAPIDS IA	-29	+	H	UNC	-25	+	H	UNC
COUNCIL BLUFFS IA					-35	+	H	DN 5
LINCOLN NE					-35	+	H	UNC
BLAIR NE	-14	+	H	UNC

RIVER TERMINALS
	CORN				SOYBEANS
TOLEDO OH	-22	+	H	UNC	-24	+	H	UNC
SENECA IL	-14	+	H	UNC	-10	+	H	UNC
SAVANNA IL	-36	+	H	UNC	-39	+	F	UNC
DAVENPORT IA	-28	+	H	UNC	-25	+	H	UNC

ETHANOL PLANTS
LINDEN IN	-10	+	H	UP 5
UNION CITY IN	+0	+	H	UNC
ANNAWAN IL	-20	+	H	UNC
COUNCIL BLUFFS IA	-18	+	H	UNC

SRW WHEAT
TOLEDO OH	-25	+	H	UNC
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 Renee Hickman; Editing by Shailesh Kuber)

((renee.hickman@thomsonreuters.com))

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