US Cash Grains-Corn basis steady-firmer, soy bids steady
CHICAGO, March 18 (Reuters) - Cash basis bids for corn were mostly steady to slightly higher in the U.S. Midwest on Wednesday, as some grain handlers sought to woo farmers into selling their crops after the recent sharp slump in Chicago Board of Trade corn and soybean futures, dealers said.
Meanwhile, soybean basis bids remained steady.
The corn basis improved by 1 cent a bushel at a Cincinnati, Ohio, elevator and by 4 cents at an ethanol plant in Annawan, Illinois.
On the CBOT, soybean futures Sv1 firmed, with deferred contracts turning higher than nearby contracts, as expectations for improving demand from biofuels producers underpinned the market. GRA/
CBOT corn futures Cv1 were up in midday trading as firmer crude oil prices CLc1 boosted the market, given corn's role as a feedstock for ethanol.
U.S. farmers plan to reduce corn plantings by 5.2% in 2026 compared to last year, and increase soybean plantings by 5.5%, according to a farmer survey released on Wednesday by commodity brokerage Allendale Inc.
S&P Global Energy projected that U.S. farmers would plant 95.2 million acres of corn in 2026 and 85.0 million acres of soybeans, the firm said in a note released to clients on Tuesday.
President Donald Trump on Tuesday said he was postponing a highly anticipated trip to Beijing to meet with Chinese President Xi Jinping as the war with Iran upends U.S. foreign policy and delays an effort to ease tensions between the world's two biggest economies.
ELEVATORS |
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| CORN |
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| SOYBEANS |
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CINCINNATI OH | -2 | + | K | UP 1 |
| -16 | + | K | UNC |
BURNS HARBOR IN | UNQ |
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| UNQ |
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DECATUR IN | UNQ |
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DES MOINES IA | UNQ |
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| UNQ |
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LINCOLN NE | -40 | + | K | UNC |
| -70 | + | K | UNC |
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PROCESSORS |
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| CORN |
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| SOYBEANS |
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DECATUR IL | -8 | + | K | UNC |
| +0 | + | K | UNC |
DECATUR IN |
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| +0 | + | K | UNC |
MORRISTOWN IN |
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| +0 | + | K | UNC |
LAFAYETTE IN |
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| -10 | + | K | UNC |
CEDAR RAPIDS IA | -18 | + | K | UNC |
| -40 | + | K | UNC |
COUNCIL BLUFFS IA |
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| -55 | + | K | UNC |
LINCOLN NE |
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| -55 | + | K | UNC |
BLAIR NE | -20 | + | K | UNC |
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RIVER TERMINALS |
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| CORN |
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| SOYBEANS |
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TOLEDO OH | +0 | + | K | UNC |
| -10 | + | K | UNC |
SENECA IL | -17 | + | K | UNC |
| -37 | + | K | UNC |
SAVANNA IL | -34 | + | K | UNC |
| -61 | + | K | UNC |
DAVENPORT IA | -26 | + | K | UNC |
| -48 | + | K | UNC |
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ETHANOL PLANTS |
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LINDEN IN | -10 | + | K | UNC |
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UNION CITY IN | +11 | + | K | UNC |
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ANNAWAN IL | -6 | + | K | UP 4 |
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COUNCIL BLUFFS IA | -28 | + | K | UNC |
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SRW WHEAT |
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TOLEDO OH | -5 | + | H | UNC |
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CINCINNATI OH | UNQ |
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| UNC |
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DECATUR IN | -20 | + | K | UNC |
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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
