US Cash Grains-Spot corn basis steady-firm on slow farmer sales

ReutersMar 17, 2025 5:01 PM

CHICAGO, March 17 (Reuters) - Spot basis bids for corn delivered to U.S. Midwest elevators and processing plants were steady to higher on Monday on slow farmer sales and weak futures prices, dealers said.

Soybean spot basis bids were unchanged at elevators and mostly steady to firmer at processing plants.

Farmers have slowed spot sales of corn and soy in recent weeks as prices have retreated amid worries that escalating trade tensions could disrupt exports. Many growers are also focused on spring planting preparations instead of on marketing grain.

A large corn processor in Decatur, Illinois, raised its spot basis bid by 4 cents a bushel, while a plant in Cedar Rapids, Iowa, lifted its spot bid by 9 cents. Meanwhile, an ethanol plant in Linden, Indiana, pushed its spot basis bid up by 4 cents.

One soybean processor in Lafayette, Indiana, raised its spot bid by 5 cents a bushel, while other crushers held their basis bids steady as futures eased and the crush pace slowed.

The National Oilseed Processors Association on Monday reported a lower-than-expected February crush of 177.87 million bushels, below all trade estimates gathered ahead of the monthly report.

Chicago Board of Trade May corn futures CK25 were down 3/4 cent at $4.57-3/4 per bushel near midday on Monday. CBOT May soybeans SK25 were down 2-3/4 cents to $10.13-1/4 a bushel.

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

ELEVATORS
	CORN				SOYBEANS
CINCINNATI OH	-5	+	K	UNC	-2	+	K	UNC
BURNS HARBOR IN	UNQ			UNC	UNQ			UNC
DECATUR IN	UNQ			UNC
DES MOINES IA					UNQ			UNC
LINCOLN NE	-40	+	K	UNC

PROCESSORS
	CORN				SOYBEANS
DECATUR IL	-4	+	K	UP 4	+0	+	K	UNC
DECATUR IN					+5	+	K	UNC
MORRISTOWN IN					+0	+	K	UNC
LAFAYETTE IN					+5	+	K	UP 5
CEDAR RAPIDS IA	-11	+	K	UP 9	-10	+	K	UNC
COUNCIL BLUFFS IA					-30	+	K	UNC
LINCOLN NE					-35	+	K	UNC
BLAIR NE	-15	+	K	UNC

RIVER TERMINALS
	CORN				SOYBEANS
TOLEDO OH	-5	+	K	UNC	-25	+	K	UNC
SENECA IL	-20	+	K	UP 3	-15	+	K	UNC
SAVANNA IL	-36	+	K	UNC	-48	+	K	UNC
DAVENPORT IA	-25	+	K	UNC	-25	+	K	UNC

ETHANOL PLANTS
LINDEN IN	-8	+	K	UP 4
UNION CITY IN	+3	+	K	UNC
ANNAWAN IL	-12	+	K	UNC
COUNCIL BLUFFS IA	-20	+	K	UNC

SRW WHEAT
TOLEDO OH	-35	+	K	NC
CINCINNATI OH	-30	+	N	NC
DECATUR IN	-45	+	K	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

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