US Cash Grains-Corn, soy basis mixed as harvest starts to wind down
CHICAGO, Oct 21 (Reuters) -Basis bids for both corn and soybeans were mixed in the U.S. Midwest on Monday as the harvest began to wind down in some areas following a busy weekend of field work, brokers said.
* Ahead of the U.S. Department of Agriculture's weekly crop progress report due later on Monday, analysts surveyed by Reuters on average expected the government to report the U.S. soybean harvest as 81% complete and the corn harvest as 63% complete.
* Farmers are harvesting two of the largest corn and soybean crops in history at the fastest pace in years, straining their physical capabilities and their grain storage capacity.
* The spot corn basis firmed by 5 cents at Decatur, Illinois, a processing hub, and by 2 cents at Seneca, Illinois, on the Illinois River.
* Basis bids were mixed at ethanol plants, falling at sites in Linden, Indiana, and Council Bluffs, Iowa, while firming at a Union City, Indiana, facility.
* For soybeans, the basis improved by a nickel a bushel at a Decatur, Indiana, soy crushing facility as well as at Seneca, Illinois. But the bean basis fell by 1 cent at a Cincinnati, Ohio, terminal.
* At the Chicago Board of Trade, corn and soybean futures rose as low prices spurred a flurry of international demand for U.S. grains and soy, analysts said. GRA/
Basis values are quoted against CBOT futures in cts/bushel:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | -21 | + | Z | UP 7 | -6 | + | X | DN 1 | |
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 | -27 | + | Z | UP 5 | -10 | + | X | UNC | |
DECATUR IN | -25 | + | X | UP 5 | |||||
MORRISTOWN IN | -20 | + | X | UNC | |||||
LAFAYETTE IN | -25 | + | X | UNC | |||||
CEDAR RAPIDS IA | -30 | + | Z | UNC | -25 | + | X | UNC | |
COUNCIL BLUFFS IA | -40 | + | X | UNC | |||||
LINCOLN NE | -40 | + | X | UNC | |||||
BLAIR NE | -15 | + | Z | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -35 | + | Z | UNC | -45 | + | X | UNC | |
SENECA IL | -28 | + | Z | UP 2 | -10 | + | X | UP 5 | |
SAVANNA IL | -48 | + | Z | UNC | -66 | + | X | UNC | |
DAVENPORT IA | -34 | + | Z | UNC | -30 | + | X | UNC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | -60 | + | Z | DN 5 | |||||
UNION CITY IN | -45 | + | Z | UP 3 | |||||
ANNAWAN IL | -35 | + | Z | UNC | |||||
COUNCIL BLUFFS IA | -34 | + | Z | DN 6 | |||||
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
--------------------------------------------------------
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 David Gregorio
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