US Cash Grains-Corn, soybean basis flat as buyers roll bids

ReutersFeb 28, 2025 4:54 PM

CHICAGO, Feb 28 (Reuters) - Spot basis bids for soybeans and corn were steady in the U.S. Midwest on Friday as grain buyers at elevators, processors and river terminals rolled their basis bids to be tied to Chicago Board of Trade May futures ahead of the March delivery period.

Bids have remained steady as CBOT corn and soy futures ticked down and farmer selling slowed.

More buyers are due to roll their bids in the coming days.

Corn and soy futures dipped on Friday on end-of-month positioning and concerns that tariffs will impact agricultural trade.

Beneficial crop weather in South America and a bumper soybean harvest in Brazil are also weighing on futures.

U.S. farmers will plant more acres of corn and less of soybeans in 2025 than they did a year earlier, the U.S. Department of Agriculture said on Thursday.

Chicago Board of Trade May corn futures CK25 were down 10 cents to $4.71 per bushel near midday. CBOT May soybeans SK25 were down 9-1/2 cents to $10.27-3/4 a bushel.

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

ELEVATORS
	CORN				SOYBEANS
CINCINNATI OH	+2	+	H	UNC	+3	+	H	UNC
BURNS HARBOR IN	UNQ			UNC	UNQ			UNC
DECATUR IN	UNQ			UNC
DES MOINES IA					UNQ			UNC
LINCOLN NE	-35	+	H	UNC

PROCESSORS
	CORN				SOYBEANS
DECATUR IL	-8	+	K	NC	-19	+	K	UNC
DECATUR IN					-5	+	K	UNC
MORRISTOWN IN					-5	+	K	UNC
LAFAYETTE IN					+0	+	H	UNC
CEDAR RAPIDS IA	-11	+	H	UNC	-20	+	K	NC
COUNCIL BLUFFS IA					-45	+	K	UNC
LINCOLN NE					-40	+	H	UNC
BLAIR NE	-28	+	K	NC

RIVER TERMINALS
	CORN				SOYBEANS
TOLEDO OH	-15	+	K	UNC	-25	+	K	UNC
SENECA IL	-23	+	K	NC	-19	+	K	NC
SAVANNA IL	-42	+	K	UNC	-52	+	K	UNC
DAVENPORT IA	-12	+	H	UNC	-14	+	H	UNC

ETHANOL PLANTS
LINDEN IN	-5	+	H	UNC
UNION CITY IN	-6	+	K	NC
ANNAWAN IL	-25	+	K	NC
COUNCIL BLUFFS IA	-12	+	H	UNC

SRW WHEAT
TOLEDO OH	-30	+	H	UNC
CINCINNATI OH	-30	+	N	UNC
DECATUR IN	-45	+	K	NC
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

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