CHICAGO, Aug 19 (Reuters) - Spot soybean basis bids were unchanged to lower at U.S. Midwest elevators and processing plants on Tuesday as demand slowed at some locations and buyers looked ahead to an expected bumper harvest this autumn, merchants said.
Soy processor demand is slowing as some crush plants are idled for seasonal maintenance or preparing to take downtime before newly harvested supplies begin flooding the market. Exporter demand has also waned as top importer China continues to shun U.S. supplies.
A processor in Decatur, Indiana, lowered its spot soy basis bid by 5 cents a bushel on Tuesday. On Monday, another Indiana plant cut its bid by 5 cents while a large crusher in central Illinois dropped its spot bid by 10 cents.
Spot corn basis bids were mostly unchanged on Tuesday, underpinned by easing futures prices but capped by expectations for a record-large harvest this autumn.
Grain merchants are following reports from this week's Pro Farmer Midwest crop tour after the U.S. Department of Agriculture forecast record corn and soybean yields in a monthly report last week. Scouts on Monday found above average crop potential in South Dakota and Ohio, but said dry weather in Ohio could limit the harvest.
The U.S. corn crop condition declined slightly over the past week but remained at its strongest since 2016, while ratings for the soybean crop remained steady, the U.S. Department of Agriculture said in a weekly report on Monday.
Chicago Board of Trade December corn futures CZ25 were down 4 cents at $4.02-1/2 per bushel at midmorning, while November soybeans SX25 fell 8-1/2 cents to $10.32-3/4 a bushel.
ELEVATORS |
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| CORN |
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| SOYBEANS |
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CINCINNATI OH | -4 | + | U | UNC |
| -50 | + | X | DN 5 |
BURNS HARBOR IN | UNQ |
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| UNC |
| UNQ |
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| UNC |
DECATUR IN | UNQ |
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DES MOINES IA |
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| UNQ |
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LINCOLN NE | -10 | + | U | UNC |
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PROCESSORS |
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| CORN |
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| SOYBEANS |
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DECATUR IL | +20 | + | U | UNC |
| +10 | + | X | UNC |
DECATUR IN |
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| -25 | + | X | DN 5 |
MORRISTOWN IN |
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| +0 | + | X | UNC |
LAFAYETTE IN |
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| +10 | + | X | UNC |
CEDAR RAPIDS IA | -2 | + | U | UNC |
| -45 | + | X | UNC |
COUNCIL BLUFFS IA |
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| -25 | + | X | UNC |
LINCOLN NE |
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| -40 | + | X | UNC |
BLAIR NE | +0 | + | U | UNC |
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RIVER TERMINALS |
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| CORN |
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| SOYBEANS |
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TOLEDO OH | -10 | + | U | UNC |
| -55 | + | X | UNC |
SENECA IL | -10 | + | U | UNC |
| -25 | + | X | UNC |
SAVANNA IL | -26 | + | U | DN 7 |
| -66 | + | X | DN 10 |
DAVENPORT IA | -15 | + | U | UNC |
| -60 | + | X | UNC |
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ETHANOL PLANTS |
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LINDEN IN | +25 | + | U | UNC |
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UNION CITY IN | +20 | + | U | UNC |
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ANNAWAN IL | -14 | + | U | UNC |
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COUNCIL BLUFFS IA | -2 | + | U | UNC |
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SRW WHEAT |
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TOLEDO OH | -32 | + | U | UNC |
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CINCINNATI OH | UNQ |
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| UNC |
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DECATUR IN | UNQ |
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BURNS HARBOR IN | UNQ |
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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