US Cash Grains-Corn, soy basis steady-to-mixed as CBOT futures climb

ReutersJan 22, 2025 1:16 AM

CHICAGO, Jan 21 (Reuters) - Spot basis bids for corn and soybeans were mostly steady in the U.S. Midwest on Tuesday with only a few mixed changes, despite a surge in Chicago Board of Trade futures prices that kept farmers selling grain, dealers said.

Farmer sales of corn and soybeans have increased in recent weeks as CBOT corn futures Cv1 climbed to their highest levels in a year and soybean futures Sv1 hit multi-month highs. Futures rose again on Tuesday, keeping farmers engaged, but the influx of grain sales pressured basis bids in some locations.

The corn basis weakened by a penny a bushel at an elevator in Council Bluffs, Iowa, but firmed by 2 cents at a Chicago corn processing site.

For soybeans, the basis fell 3 cents a bushel at Council Bluffs but improved by 5 cents at a Des Moines, Iowa, soy crushing facility.

CBOT March corn futures CH25 settled up 5-3/4 cents at $4.90 per bushel as the tariffs promised by newly inaugurated U.S. President Donald Trump did not immediately materialize, traders said. Soybean futures SH25 ended up 33-1/4 cents at $10.67-1/4 a bushel. GRA/

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

	Current			Previous
ELEVATORS	Bid			Bid
Chicago, Illinois
Corn processors	+0	+	H	-2	+	H	UP 2
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	UNC
Burns Harbor IN corn	UNQ			UNQ			UNC
Burns Harbor IN soy	UNQ			UNQ			UNC
Lafayette IN soy	+0	+	H	+0	+	H	UNC
Toledo OH (port)
Corn	-23	+	H	-23	+	H	UNC
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	-14	+	H	UNC
Soybeans	-10	+	H	-10	+	H	UNC
Fort Worth TX corn	+130	+	H	+130	+	H	UNC
Blair NE corn	-16	+	H	-16	+	H	UNC
Council Bluffs, IA (elevator)
Corn	-16	+	H	-15	+	H	DN 1
Soy	-45	+	H	-42	+	H	DN 3
Des Moines IA soy	-30	+	H	-35	+	H	UP 5
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 Julie Ingwersen; Editing by Sherry Jacob-Phillips)

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

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