US Cash Grains-Corn basis steady-firm at ethanol plants, soy crushers bids flat-lower

Reuters
17 Jul
US Cash Grains-Corn basis steady-firm at ethanol plants, soy crushers bids flat-lower

CHICAGO, July 16 (Reuters) - Spot basis bids for corn delivered to U.S. Midwest ethanol plants were mostly steady to higher on Wednesday and steady to lower at elevators and other processors, while soybean basis values were mixed at elevators and weak at several processing plants.

  • Farmer sales of both commodities have been slow this week as prices are hovering near recent lows, grain merchants said. Grain buyers are awaiting what are forecast to be large corn and soybean crops this autumn so they have not been aggressively bidding for supplies, they said.

  • Chicago Board of Trade corn futures notched contract lows on Monday before recovering to close higher. New-crop soybean futures hit two-month lows on Monday.

  • A large soybean processor in Decatur, Illinois, raised its spot basis bid by 5 cents a bushel late on Tuesday although the bid remained 5 cents below last week. Another crusher in Cedar Rapids, Iowa, cut its spot basis bid by 5 cents on Wednesday and a Sioux City, Iowa, processor trimmed its bid by 5 cents late on Tuesday.

  • An ethanol plant near Linden, Indiana, raised its spot corn basis bid by 5 cents a bushel on Wednesday. A corn processor in Cedar Rapids, Iowa, cut its spot basis by 2 cents after a processor in Blair, Nebraska, trimmed its bid by 3 cents a day earlier.

  • Chicago Board of Trade September corn futures CU25 were up 3-3/4 cents at $4.05 a bushel at 12:25 p.m. CDT (1724 GMT), while new-crop December corn CZ25 was up 4 cents at $4.23-3/4 a bushel.

  • CBOT August soybean futures SQ25 were up 15-1/2 cents at $10.10-1/2 per bushel. New-crop November soybeans SX25 were up 16-1/4 cents at $10.18 a bushel.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+27

+

U

UP 1

+27

+

Q

UP 2

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

UNC

DES MOINES IA

UNQ

UNC

LINCOLN NE

-5

+

U

UNC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

+18

+

U

UNC

+20

+

X

UP 5

DECATUR IN

+10

+

X

UNC

MORRISTOWN IN

+25

+

X

UNC

LAFAYETTE IN

+20

+

X

UNC

CEDAR RAPIDS IA

+2

+

U

DN 2

-10

+

X

UP 5

COUNCIL BLUFFS IA

-5

+

X

UNC

LINCOLN NE

-20

+

X

UNC

BLAIR NE

+12

+

U

DN 3

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

+10

+

U

UNC

-50

+

X

UNC

SENECA IL

+5

+

U

UNC

+0

+

Q

UNC

SAVANNA IL

-11

+

U

UNC

-35

+

Q

UNC

DAVENPORT IA

-5

+

U

DN 2

-10

+

Q

DN 1

ETHANOL PLANTS

LINDEN IN

+30

+

U

UP 5

UNION CITY IN

+55

+

U

UNC

ANNAWAN IL

+0

+

U

UNC

COUNCIL BLUFFS IA

+10

+

U

UNC

SRW WHEAT

TOLEDO OH

-29

+

U

UNC

CINCINNATI OH

-22

+

U

UNC

DECATUR IN

-25

+

U

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 Karl Plume in Chicago; Editing by Kirsten Donovan)

((karl.plume@thomsonreuters.com; +1 313 484 5285))

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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