US Cash Grains-Corn, soy basis bids unchanged amid slow sales

ReutersJan 31, 2025 8:27 PM

CHICAGO, Jan 31 (Reuters) - Spot basis bids for corn and soybeans were unchanged in the U.S. Midwest on Friday, spot checks showed, as farmer sales remained slow and traders positioned amid ongoing uncertainty around U.S. President Donald Trump's threats of tariffs.

Analysts have warned that the tariffs Trump has threatened could spark retaliation from impacted countries and trade wars, hurting the markets for U.S. agricultural exports.

Trump has said that the tariffs would take effect on Saturday if Canada and Mexico do not stem the flow of illegal migrants and the drug fentanyl into the United States.

Many market players are waiting to see if Trump follows through on tariff threats before making big moves, analysts said.

Hot, dry weather in Argentina that has damaged the corn and soy crop in the agricultural powerhouse sparked a rally earlier in the week and continues to add a floor to prices.

On the CBOT, March corn settled down 8-1/4 cents at $4.82 per bushel and March soybeans SH25 ended down 2 cents to $10.42 a bushel.

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	+0	+	H	+0	+	H	UNC
Decatur IL corn	-6	+	H	-6	+	H	UNC
Decatur IL soybeans	-15	+	H	-15	+	H	UNC
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	-10	+	H	-10	+	H	UNC
Soy	-15	+	H	-15	+	H	UNC
SRW wheat	-30	+	H	-30	+	H	UNC
Davenport IA (river)
Corn	-28	+	H	-28	+	H	UNC
Soy	-32	+	H	-32	+	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	-27	+	H	-27	+	H	UNC
Fort Worth TX corn	+130	+	H	+130	+	H	UNC
Blair NE corn	-18	+	H	-18	+	H	UNC
Council Bluffs, IA (elevator)
Corn	-19	+	H	-19	+	H	UNC
Soy	-45	+	H	-45	+	H	UNC
Des Moines IA soy	-45	+	H	-45	+	H	UNC
Sioux City IA soy	-45	+	H	-45	+	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

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