US Cash Grains-Corn basis steady-firmer; soy bids mixed

ReutersJan 23, 2025 12:13 AM

CHICAGO, Jan 22 (Reuters) - Spot basis bids for corn were steady to stronger in the U.S. Midwest on Wednesday despite an influx of farmer grain sales in recent days, while soybean basis bids were mixed, grain dealers said.

The corn basis firmed by 8 cents a bushel at a Toledo, Ohio, terminal elevator and by 2 cents at a processing plant in Blair, Nebraska.

Corn supplies generally are tighter in the eastern half of the Midwest than the western half, brokers said. Farmers have increased their sales of corn since mid-January as benchmark Chicago Board of Trade corn futures Cv1 climbed to the highest level in a year.

For soybeans, the basis improved by 4 cents a bushel on Wednesday at Toledo, but fell by 10 cents at a Sioux City, Iowa, crushing site and fell by 5 cents at Davenport, Iowa, where grain is loaded onto barges for shipment toward Gulf Coast exporters.

At the Gulf, a rare winter storm stalled loading operations at export terminals. ADM reportedly declared force majeure at its Gulf facilities.

On the CBOT, March corn futures CH25 settled down 5-3/4 cents at $4.84-1/4 per bushel, turning lower after a climb to $4.92-1/4.

CBOT March soybean futures SH25 ended down 11-1/4 cents at $10.56 a bushel. GRA/

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

	Current			Previous
ELEVATORS	Bid			Bid
Chicago, Illinois
Corn processors	+0	+	H	+0	+	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	+0	+	H	+5	+	H	DN 5
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	-15	+	H	-23	+	H	UP 8
Soy	-18	+	H	-22	+	H	UP 4
SRW wheat	-30	+	H	-30	+	H	UNC
Davenport IA (river)
Corn	-28	+	H	-28	+	H	UNC
Soy	-30	+	H	-25	+	H	DN 5
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	-14	+	H	-16	+	H	UP 2
Council Bluffs, IA (elevator)
Corn	-16	+	H	-16	+	H	UNC
Soy	-45	+	H	-45	+	H	UNC
Des Moines IA soy	-40	+	H	-30	+	H	DN 10
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 Deepa Babington)

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

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