CHICAGO, Jan 27 (Reuters) - Spot basis bids for soybeans and corn were steady to firmer in the U.S. Midwest on Tuesday, reflecting demand from processors and other grain handlers, while wintry weather slowed grain movement and languishing Chicago Board of Trade futures prices curbed farmer sales, brokers said.
"Very cold, blustery conditions prevail throughout the Corn Belt, with this morning's minimum temperatures falling below zero degrees Fahrenheit (minus 18 degrees Celsius) from the eastern Dakotas into the upper Great Lakes region," the U.S. Department of Agriculture said in a daily weather note.
The spot basis for soybeans improved by 7 cents a bushel at Decatur, Illinois, a major processing site, and by 3 cents at an elevator in Cincinnati, Ohio.
The corn basis rose by 2 cents at Cincinnati as well. Basis bids held steady elsewhere, spot checks showed.
CBOT March CH26 corn futures headed lower for a second session on Tuesday and remained 10 to 20 cents a bushel below the trading range from early January, before the U.S. Department of Agriculture reported larger-than-expected U.S. corn stockpiles.
CBOT March SH26 soybean futures were trying to rally from multi-month lows set in mid-January, but the contract has not traded above $11 a bushel since mid-December.
As of 11:45 a.m. CST (1745 GMT), CBOT March corn CH26 was down 1 cent at $4.27-1/4 a bushel while March soybeans SH26 were up 6 cents at $10.67-3/4 a bushel. GRA/
Basis values are quoted against CBOT futures in cts/bu:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | +12 | + | H | UP 2 | +18 | + | H | UP 3 | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | H | UNC | UNQ | H | UNC | |||
DES MOINES IA | UNQ | UNC | UNQ | UNC | |||||
LINCOLN NE | -42 | + | H | UNC | -55 | + | H | UNC | |
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | +3 | + | H | UNC | +12 | + | H | UP 7 | |
DECATUR IN | +5 | + | H | UNC | |||||
MORRISTOWN IN | +5 | + | H | UNC | |||||
LAFAYETTE IN | +5 | + | H | UNC | |||||
CEDAR RAPIDS IA | -12 | + | H | UNC | -30 | + | H | UNC | |
COUNCIL BLUFFS IA | -40 | + | H | UNC | |||||
LINCOLN NE | -35 | + | H | UNC | |||||
BLAIR NE | -7 | + | H | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | +10 | + | H | UNC | -10 | + | H | UNC | |
SENECA IL | -10 | + | H | UNC | -8 | + | H | UNC | |
SAVANNA IL | -26 | + | H | UNC | -51 | + | H | UNC | |
DAVENPORT IA | -10 | + | H | UNC | -16 | + | H | UNC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | -5 | + | H | UNC | |||||
UNION CITY IN | +20 | + | H | UNC | |||||
ANNAWAN IL | -10 | + | H | UNC | |||||
COUNCIL BLUFFS IA | -18 | + | H | UNC | |||||
SRW WHEAT | |||||||||
TOLEDO OH | -5 | + | H | UNC | |||||
CINCINNATI OH | UNQ | UNC | |||||||
DECATUR IN | -25 | + | H | 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
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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
(Reporting by Julie Ingwersen; Editing by Jan Harvey)
((Julie.ingwersen@thomsonreuters.com; 1-313-484-5283))