US Cash Grains-Soybean basis mixed as crusher demand slows, corn bids mostly flat
CHICAGO, Aug 22 (Reuters) - Spot basis bids for soybeans delivered to U.S. Midwest processors were mostly steady-to-lower on Friday on slowing demand, while bids at elevators were mostly unchanged-to-firmer, merchants said.
Soy bids at processing plants have eased this week as several facilities are due to take seasonal downtime for maintenance and repairs, lessening the industry's need for crushing supplies.
A soy crusher in Morristown, Indiana, trimmed its spot bid by 5 cents a bushel on Friday. Bids at other processors were down as much as 10 cents this week.
Spot corn basis bids were largely unchanged on Friday.
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.
Prospects for corn and soybean crops in Iowa and Minnesota are the strongest in at least 22 years, scouts on Pro Farmer's annual tour of top grain-producing states said on Thursday, but diseases already lurking in fields could limit yields at harvest.
Pro Farmer will release its final crop outlook on Friday afternoon, drawing from tour observations.
Chicago Board of Trade December corn futures CZ25 were unchanged in early trading on Friday at $4.11-3/4 per bushel, while November soybeans SX25 rose 1/4 cent to $10.56-1/4 a bushel.
Basis values are quoted against CBOT futures in cents/bu:
ELEVATORS |
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| CORN |
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| SOYBEANS |
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CINCINNATI OH | -2 | + | U | UNC |
| -43 | + | X | UP 5 |
BURNS HARBOR IN | UNQ |
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| UNC |
| UNQ |
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| UNC |
DECATUR IN | UNQ |
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| UNC |
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DES MOINES IA |
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| UNQ |
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| UNC |
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 | +15 | + | U | UNC |
| +10 | + | X | UNC |
DECATUR IN |
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| -25 | + | X | UNC |
MORRISTOWN IN |
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| -5 | + | X | DN 5 |
LAFAYETTE IN |
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| +10 | + | X | UNC |
CEDAR RAPIDS IA | -4 | + | 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 |
| -20 | + | X | UNC |
SAVANNA IL | -21 | + | U | UNC |
| -66 | + | X | UNC |
DAVENPORT IA | -12 | + | U | UP 3 |
| -65 | + | X | UNC |
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ETHANOL PLANTS |
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LINDEN IN | +25 | + | U | UNC |
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UNION CITY IN | +13 | + | 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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| UNC |
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BURNS HARBOR IN | UNQ |
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| UNC |
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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
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