US Cash Grains-Soybean basis steady-weaker; corn bids mixed
CHICAGO, March 16 (Reuters) - Basis bids for soybeans were steady to lower in the U.S. Midwest on Monday, adding to steep declines in Chicago Board of Trade soybean futures, while corn basis bids were mixed, spot checks showed.
Cash sales of both commodities slowed as CBOT soy, corn, and wheat futures tumbled, following an outpouring of farmer selling last week.
CBOT soybean futures fell by their 70-cent daily maximum as prospects for a delay in U.S. President Donald Trump's meeting with Chinese President Xi Jinping at the end of March dampened hopes of more U.S. soybean sales to China. GRA/
Soybean basis bids weakened at Midwest river elevators, signaling slower demand from exporters at the U.S. Gulf.
The spot bean basis also declined by 6 cents at Decatur, Illinois, a domestic grain processing hub.
Monthly data from the National Oilseed Processors Association reflected a strong soy crushing pace in February. NOPA said its members crushed 208.785 million bushels of soybeans last month, topping a range of trade expectations.
NOPA's figure reflected a crush rate of 7.457 million bushels per day, surpassing the prior record pace of 7.343 million bushels a day set in October 2025.
Corn basis bids were mixed. The basis improved by 4 cents at Davenport, Iowa, on the Mississippi River, but weakened by 8 cents at a rail terminal in Columbus, Ohio, and by 3 cents at Evansville, Indiana.
CBOT May soybeans SK26 settled down 70 cents at $11.55-1/4 a bushel while May corn CK26 ended down 13-1/4 cents at $4.54 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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Chicago, Illinois |
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Corn processors | +0 | + | K |
| +0 | + | K | UNC |
Corn elevators | -7 | + | K |
| -7 | + | K | UNC |
Soybean elevators | -10 | + | K |
| -10 | + | K | UNC |
Wheat elevators | -15 | + | K |
| -15 | + | K | UNC |
Wheat processors | -50 | + | K |
| -50 | + | K | UNC |
Decatur IL corn | -8 | + | K |
| -8 | + | K | UNC |
Decatur IL soybeans | -14 | + | K |
| -8 | + | K | DN 6 |
Burns Harbor IN corn | UNQ |
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| UNQ |
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| UNC |
Burns Harbor IN soy | UNQ |
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| UNQ |
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| UNC |
Lafayette IN soy | -10 | + | K |
| -10 | + | K | UNC |
Toledo OH (port) |
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Corn | +0 | + | K |
| +0 | + | K | UNC |
Soy | -10 | + | K |
| -10 | + | K | UNC |
SRW wheat | -5 | + | K |
| -5 | + | K | UNC |
Davenport IA (river) |
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Corn | -26 | + | K |
| -30 | + | K | UP 4 |
Soy | -48 | + | K |
| -45 | + | K | DN 3 |
Evansville IN (rail) |
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15-car CSX corn | +12 | + | K |
| +15 | + | K | DN 3 |
Cincinnati OH (rail) |
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3-car corn | UNQ |
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| UNQ |
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| UNC |
Hereford TX corn | +95 | + | K |
| +95 | + | K | UNC |
Columbus OH (rail) |
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3-car corn | +17 | + | K |
| +25 | + | K | DN 8 |
Morris IL (river) |
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Corn | -17 | + | K |
| -17 | + | K | UNC |
Soybeans | -35 | + | K |
| -30 | + | K | DN 5 |
Fort Worth TX corn | +95 | + | K |
| +95 | + | K | UNC |
Blair NE corn | -20 | + | K |
| -20 | + | K | UNC |
Council Bluffs, IA (elevator) |
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Corn | -23 | + | K |
| -23 | + | K | UNC |
Soy | -81 | + | K |
| -81 | + | K | UNC |
Des Moines IA soy | -50 | + | K |
| -50 | + | K | UNC |
Sioux City IA soy | -50 | + | K |
| -50 | + | K | 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-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
