US Cash Grains-Spot soybean basis steady-firm, corn bids mixed

ReutersApr 22, 2025 3:41 PM

CHICAGO, April 22 (Reuters) - Spot basis bids for soybeans rose on Tuesday at U.S. Midwest processing plants and river elevators and held mostly steady at interior elevators as buyers sought to drum up farmer sales to replenish near-term supplies, grain dealers said.

Spot corn basis bids were mixed at Midwest elevators and processing plants.

Weekend rains across the central United States stalled corn and soybean planting after farmers had made strong early progress seeding their spring crops. Growers are now waiting for the soil to dry out before resuming field work.

The U.S. Department of Agriculture said late on Monday that 12% of the U.S. corn crop was planted as of Sunday, along with 8% of the soybean crop. Both figures were ahead of market expectations.

Soybean processing plants in Morristown, Indiana, and in Cedar Rapids and Council Bluffs, Iowa, lifted their spot basis bids by 5 cents a bushel on Tuesday. A crusher in Lincoln, Nebraska, raised its spot bid by 10 cents.

A large corn processor in Decatur, Illinois, increased its spot basis bid by 8 cents a bushel. Another processor in Cedar Rapids, Iowa, trimmed its spot basis by 2 cents, although the bid for corn delivered by the end of the month remained at a 5-cent premium to bids for grain delivered in the first half of May.

Chicago Board of Trade soybean futures Sv1 edged higher on Tuesday, but remained below many growers' sales price targets, grain merchants said. Corn futures Cv1 were down.

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

ELEVATORS
	CORN				SOYBEANS
CINCINNATI OH	+8	+	K	DN 2	+9	+	K	UNC
BURNS HARBOR IN	UNQ			UNC	UNQ			UNC
DECATUR IN	UNQ			UNC
DES MOINES IA					UNQ			UNC
LINCOLN NE	-25	+	K	UNC

PROCESSORS
	CORN				SOYBEANS
DECATUR IL	+14	+	K	UP 8	+15	+	K	UNC
DECATUR IN					+25	+	K	UNC
MORRISTOWN IN					+25	+	K	UP 5
LAFAYETTE IN					+25	+	K	UNC
CEDAR RAPIDS IA	+5	+	K	DN 2	+5	+	K	UP 5
COUNCIL BLUFFS IA					+0	+	K	UP 5
LINCOLN NE					-10	+	K	UP 10
BLAIR NE	-4	+	K	UP 2

RIVER TERMINALS
	CORN				SOYBEANS
TOLEDO OH	+0	+	K	UNC	+0	+	K	UNC
SENECA IL	+0	+	K	UP 5	-2	+	K	UP 3
SAVANNA IL	-26	+	K	UNC	-36	+	K	UNC
DAVENPORT IA	-9	+	K	UP 3	-10	+	K	UP 5

ETHANOL PLANTS
LINDEN IN	+5	+	K	UNC
UNION CITY IN	+17	+	K	UNC
ANNAWAN IL	-8	+	K	UNC
COUNCIL BLUFFS IA	-8	+	K	UNC

SRW WHEAT
TOLEDO OH	-35	+	K	UNC
CINCINNATI OH	UNQ			UNC
DECATUR IN	-40	+	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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