US Cash Grains-Soy, corn basis bids mostly steady-firm as rains slow Midwest planting
CHICAGO, April 27 (Reuters) - Spot basis bids for soybeans delivered to U.S. Midwest elevators and processing plants were mostly steady to higher early on Monday as futures rose and rainy weather slowed spring planting progress, crop merchants said.
Spot corn basis bids firmed at ethanol plants but held steady at other processors and at elevators around the Midwest.
Grain merchants were starting to roll their spot basis bids to Chicago Board of Trade July contracts from May.
A soybean processor in Cedar Rapids, Iowa, rolled its spot basis bid to 30 cents a bushel below July futures, from Friday's bid of 20 cents below May futures. The move lifted the cash bid by about 5 cents a bushel.
An ethanol plant in Union City, Indiana, raised its spot corn basis bid by 3 cents a bushel. The spot cash bid at a plant in Annawan, Illinois, rose by about 9 cents after merchants rolled their bids to July futures.
Farmers are largely focusing on spring planting field work instead of on marketing grain. Futures prices remain below recent highs and many growers are waiting for prices to rise further before selling more of their crops, merchants said.
Rainy weather sidelined many farmers on Monday. Planting delays are expected to be minimal, however, as rains were forecast to taper by midweek.
The U.S. Department of Agriculture is due to update its weekly planting progress and conditions report later on Monday. Planting of corn and soybeans has been slightly ahead of the normal pace.
Basis values are quoted against CBOT futures in cts/bu:
ELEVATORS |
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| CORN |
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| SOYBEANS |
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CINCINNATI OH | +21 | + | K | UNC |
| +18 | + | K | UP 2 |
BURNS HARBOR IN | UNQ |
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| UNC |
| UNQ |
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| UNC |
DECATUR IN | UNQ |
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| UNC |
| UNQ |
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| UNC |
DES MOINES IA | UNQ |
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| UNC |
| UNQ |
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| UNC |
LINCOLN NE | -34 | + | K | UNC |
| -60 |
| K | UNC |
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PROCESSORS |
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| CORN |
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| SOYBEANS |
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DECATUR IL | +5 | + | K | UNC |
| +28 | + | K | UNC |
DECATUR IN |
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| +15 | + | K | UNC |
MORRISTOWN IN |
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| +15 | + | K | UNC |
LAFAYETTE IN |
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| +25 | + | K | UNC |
CEDAR RAPIDS IA | -10 | + | K | UNC |
| -30 | + | N | NC |
COUNCIL BLUFFS IA |
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| -40 | + | K | UNC |
LINCOLN NE |
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| -35 | + | K | UNC |
BLAIR NE | -10 | + | K | UNC |
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RIVER TERMINALS |
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| CORN |
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| SOYBEANS |
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TOLEDO OH | +15 | + | K | UNC |
| -5 | + | K | UNC |
SENECA IL | +2 | + | K | UNC |
| -7 | + | K | UNC |
SAVANNA IL | -26 | + | K | UNC |
| -61 | + | K | UNC |
DAVENPORT IA | -20 | + | K | UNC |
| -26 | + | K | UP 2 |
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ETHANOL PLANTS |
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LINDEN IN | +5 | + | K | UNC |
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UNION CITY IN | +30 | + | K | UP 3 |
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ANNAWAN IL | -10 | + | N | NC |
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COUNCIL BLUFFS IA | -10 | + | K | UNC |
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SRW WHEAT |
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TOLEDO OH | -10 | + | K | 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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| 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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