US Cash Grains-Soybean basis bids steady to higher

Reuters
25 Jun
US Cash Grains-Soybean basis bids steady to higher

CHICAGO, June 24 (Reuters) - Soybean basis bids were flat to higher at processing facilities around the U.S. Midwest on Tuesday as dealers tried to re-engage farmers, according to analysts.

  • ADM raised its basis by 40 cents at a processor in Decatur, Illinois to try to coax beans from farmers as futures fell, according to one analyst note.

  • River terminals were adequately covered, the note said.

  • The corn basis rose by 3 cents at an elevator in Blair, Nebraska.

  • Rains mixed with warmer weather are expected to provide ideal growing conditions in the U.S. Midwest in the coming weeks, according to forecasters, pressuring corn and soybean futures.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+11

+

N

UNC

+0

+

N

DN 1

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

UNC

DES MOINES IA

UNQ

UNC

LINCOLN NE

-18

+

N

UNC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

+8

+

N

UNC

+20

+

X

UP 40

DECATUR IN

+10

+

N

UNC

MORRISTOWN IN

+15

+

N

UNC

LAFAYETTE IN

-2

+

N

UNC

CEDAR RAPIDS IA

-2

+

N

UNC

-25

+

X

UNC

COUNCIL BLUFFS IA

-20

+

N

UNC

LINCOLN NE

-35

+

X

UNC

BLAIR NE

+10

+

N

UP 3

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

+10

+

N

UNC

-50

+

X

UNC

SENECA IL

-1

+

N

UNC

-5

+

N

UNC

SAVANNA IL

-13

+

N

UNC

-36

+

N

UNC

DAVENPORT IA

-10

+

N

UNC

-28

+

N

UNC

ETHANOL PLANTS

LINDEN IN

+15

+

N

UNC

UNION CITY IN

+40

+

N

UNC

ANNAWAN IL

-7

+

N

UNC

COUNCIL BLUFFS IA

+4

+

N

UNC

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 Renee Hickman; Editing by Cynthia Osterman)

((renee.hickman@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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