US Cash Grains-Soybean basis bids mostly steady to lower, corn bids mixed
CHICAGO, July 14 (Reuters) - Spot basis bids for soybeans were mostly steady at U.S. Midwest interior and river elevators on Monday and mostly unchanged to lower at processing plants, while corn basis bids were mixed.
A large soy processor in Decatur, Illinois, cut its spot soybean basis bid by 10 cents a bushel on Monday, while other processors held bids unchanged.
A corn processor in Chicago lifted its spot basis bid by 3 cents, while an elevator in the same location trimmed its bid by 3 cents. A barge-loading river elevator in Morris, Illinois, reduced its corn basis bid by 5 cents.
U.S. corn crop conditions held steady over the past week, with 74% of the crop rated in good to excellent shape, the strongest mid-July level since 2016, according to U.S. Department of Agriculture data released on Monday. Soy crop conditions improved to their strongest since 2016 after an unexpected 4-point jump from a week earlier to 70% good to excellent.
Warm weather and timely rains have supported strong crop prospects for corn and soy in recent weeks as more of the corn crop is entering its critical pollination stage of development and as about half of the soy crop is flowering.
Benchmark Chicago Board of Trade December corn futures CZ25 settled 5-3/4 cents higher on Monday at $4.18 a bushel, while November soybeans SX25 ended 1/4 cent lower at $10.07 a bushel.
Basis values are quoted against CBOT futures in cents/bu:
| Current |
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| Previous |
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| Bid |
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| Bid |
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Chicago, Illinois |
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Corn processors | +25 | + | U |
| +22 | + | U | UP 3 |
Corn elevators | +37 | + | U |
| +40 | + | U | DN 3 |
Soybean elevators | -10 | + | Q |
| -10 | + | Q | UNC |
Wheat elevators | -10 | + | U |
| -10 | + | U | UNC |
Wheat processors | -10 | + | U |
| -10 | + | U | UNC |
Decatur IL corn | +18 | + | U |
| +18 | + | U | UNC |
Decatur IL soybeans | +15 | + | X |
| +25 | + | X | DN 10 |
Burns Harbor IN corn | UNQ |
|
|
| UNQ |
|
| UNC |
Burns Harbor IN soy | UNQ |
|
|
| UNQ |
|
| UNC |
Lafayette IN soy | +20 | + | X |
| +20 | + | X | UNC |
Toledo OH (port) |
|
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Corn | +10 | + | U |
| +10 | + | U | UNC |
Soy | -15 | + | X |
| -15 | + | X | UNC |
SRW wheat | -29 | + | U |
| -29 | + | U | UNC |
Davenport IA (river) |
|
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Corn | +0 | + | U |
| +1 | + | U | DN 1 |
Soy | -9 | + | Q |
| -9 | + | Q | UNC |
Evansville IN (rail) |
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15-car CSX corn | UNQ |
|
| UNQ |
| UNC | ||
Cincinnati OH (rail) |
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3-car corn | UNQ |
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| UNQ |
|
| UNC |
Hereford TX corn | +110 | + | U |
| +110 | + | U | UNC |
Columbus OH (rail) |
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3-car corn | +48 | + | U |
| +48 | + | U | UNC |
Morris IL (river) |
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Corn | +5 | + | U |
| +10 | + | U | DN 5 |
Soybeans | -2 | + | Q |
| -2 | + | Q | UNC |
Fort Worth TX corn | +110 | + | U |
| +110 | + | U | UNC |
Blair NE corn | +15 | + | U |
| +15 | + | U | UNC |
Council Bluffs, IA (elevator) |
|
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Corn | +13 | + | U |
| +13 | + | U | UNC |
Soy | -25 | + | X |
| -25 | + | X | UNC |
Des Moines IA soy | -20 | + | X |
| -20 | + | X | UNC |
Sioux City IA soy | -5 | + | X |
| -5 | + | X | 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
---------------------------------------------------------
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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