US Cash Grains-Soybean bids continue downward trend; corn bids steady

Reuters
18 Jun
US Cash Grains-Soybean bids continue downward trend; corn bids steady

CHICAGO, June 17 (Reuters) - Spot soybean basis bids continued to drop in the U.S. Midwest on Tuesday after basis values eroded in previous days while corn bids were higher.

  • Soybean bids ticked lower at an Ohio elevator, Iowa processor and an Iowa river terminal.

  • Corn bids ticked higher at an Iowa processor, an Illinois river terminal and an Iowa ethanol plant.

  • Expectations for a large harvest and limp demand have added pressure to soybean basis values.

  • Chicago Board of Trade soybean futures were higher on Tuesday, supported by rising crude oil prices and uncertainty about Midwest crop weather in the weeks ahead, while soyoil prices eased following a sharp two-day rally tied to stronger U.S. biofuel blending mandates

  • Chicago Board of Trade July soybean futures SN25 rose 4-1/4 cents to settle at $10.74 per bushel.

  • CBOT corn futures fell 3-1/4 cents to settle at $4.31-1/2 per bushel.

Basis values are quoted against CBOT futures in cts/bu:

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+10

+

N

UNC

+3

+

N

DN 5

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

UNC

DES MOINES IA

UNQ

UNC

LINCOLN NE

-20

+

N

UNC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

+8

+

N

UNC

-20

+

X

UNC

DECATUR IN

+10

+

N

DN 5

MORRISTOWN IN

+20

+

N

UNC

LAFAYETTE IN

-5

+

N

UNC

CEDAR RAPIDS IA

+0

+

N

UP 1

-25

+

X

DN 10

COUNCIL BLUFFS IA

-20

+

N

UNC

LINCOLN NE

-35

+

X

UNC

BLAIR NE

+6

+

N

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

+10

+

N

UNC

-50

+

X

UNC

SENECA IL

-1

+

N

UNC

-9

+

N

UNC

SAVANNA IL

-13

+

N

UP 2

-36

+

N

UNC

DAVENPORT IA

-9

+

N

UNC

-28

+

N

DN 6

ETHANOL PLANTS

LINDEN IN

+15

+

N

UNC

UNION CITY IN

+40

+

N

UNC

ANNAWAN IL

-10

+

N

UNC

COUNCIL BLUFFS IA

+2

+

N

UP 2

SRW WHEAT

TOLEDO OH

-25

+

N

UNC

CINCINNATI OH

UNQ

UNC

DECATUR IN

-30

+

N

UNC

BURNS HARBOR IN

UNQ

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 = JulyQ = August, U = September, X = November, Z = December

--------------------------------------------------------

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

(Reporting by Heather Schlitz; Editing by David Gregorio)

((Heather.Schlitz@thomsonreuters.com;))

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