US Cash Grains-Corn processor basis firms, soy bids roll to January futures
CHICAGO, Oct 31 (Reuters) -Basis bids for corn and soybeans were steady to stronger in the U.S. Midwest on Thursday, reflecting demand from processors as the harvest of both crops neared its last stages.
* The corn basis improved by 3 to 5 cents a bushel at processing plants in Cedar Rapids, Iowa, and Blair, Nebraska, and by 2 to 10 cents at ethanol facilities in Linden and Union City, Indiana, a sign of brisk demand for the grain.
* Soybean basis bids strengthened at several crushing sites as processors rolled their basis bids to the Chicago Board of Trade January SF25 futures contract.
* For example, the CBOT January soybean contract SF25 is trading at a roughly 14-cent premium to the November SX24 contract, which expires on Nov. 14. Yet a crushing plant in Decatur, Illinois, lowered its soybean basis by only 4 cents on the roll to January futures, in effect raising the flat price.
* Declining costs for barge freight helped support grain bids at Midwest river elevators. Empty barges on the Illinois River were offered on Wednesday at 825% of tariff, down 100 percentage points from Monday. BG/US
* Harvest activity slowed as storms crossed Arkansas through southeast Missouri, Illinois and Indiana on Thursday and slushy snow fell in Minnesota. However, the U.S. soybean harvest was already 89% complete and the corn harvest was 81% complete as of Oct. 27, USDA data showed.
* On the Chicago Board of Trade at mid-session, December corn CZ24 was down 1-1/4 cents at $4.10-1/4 a bushel while January soybeans SF25 were up 1-1/4 cents at $9.92-1/2. GRA/
Basis values are quoted against CBOT futures in cts/bushel:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | -30 | + | Z | UNC | -25 | + | X | UNC | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | |||||||
DES MOINES IA | UNQ | UNC | |||||||
LINCOLN NE | -25 | + | Z | UNC | |||||
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | -16 | + | Z | UNC | +6 | + | F | NC | |
DECATUR IN | -20 | + | F | NC | |||||
MORRISTOWN IN | -15 | + | F | NC | |||||
LAFAYETTE IN | +5 | + | X | UP 10 | |||||
CEDAR RAPIDS IA | -17 | + | Z | UP 3 | -25 | + | X | UNC | |
COUNCIL BLUFFS IA | -35 | + | F | NC | |||||
LINCOLN NE | -30 | + | X | UNC | |||||
BLAIR NE | -10 | + | Z | UP 5 | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -30 | + | Z | UNC | -40 | + | F | NC | |
SENECA IL | -28 | + | Z | UP 2 | +0 | + | X | UP 5 | |
SAVANNA IL | -46 | + | Z | UNC | -61 | + | X | DN 5 | |
DAVENPORT IA | -34 | + | Z | UP 5 | -15 | + | X | UNC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | -20 | + | Z | UP 10 | |||||
UNION CITY IN | -10 | + | Z | UP 2 | |||||
ANNAWAN IL | -35 | + | Z | UNC | |||||
COUNCIL BLUFFS IA | -27 | + | Z | UNC | |||||
SRW WHEAT | |||||||||
TOLEDO OH | -20 | + | H | UNC | |||||
CINCINNATI OH | UNQ | UNC | |||||||
DECATUR IN | -75 | + | Z | 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 = 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
Reporting by Julie Ingwersen; Editing by Richard Chang
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