US Cash Grains-Corn, soybean basis mixed as harvest advances
CHICAGO, Oct 21 (Reuters) -Basis bids for corn and soybeans were mixed in the U.S. Midwest on Monday as the fast-paced harvest of both crops wound down, merchandisers said.
* The corn basis weakened by 5 cents at a Chicago-area processing site and by 2 cents at a Council Bluffs, Iowa, elevator.
* But the corn basis firmed by 5 cents at Decatur, Illinois, site of another processor.
* For soybeans, the basis dipped by 10 cents at Toledo, Ohio, but firmed by 5 cents at a Decatur, Illinois, soy crushing site.
* The U.S. soybean harvest was 81% complete and the corn harvest was 65% complete by Sunday, the U.S. Department of Agriculture's weekly crop progress report showed, both well ahead of their respective five-year averages.
* The unusually fast harvest or record or near-record crops this autumn has strained farmers' physical capabilities as well as the capacity of the region's grain storage infrastructure.
* On the Chicago Board of Trade, December corn futures CZ24 settled up 4-3/4 cents at $4.09-1/2 per bushel and November soybeans SX24 ended up 11 cents at $9.81 a bushel, buoyed by a flurry of export deals for U.S. grains and soy. GRA/
Basis values are quoted against CBOT futures in cents/bu:
Current | Previous | |||||||
ELEVATORS | Bid | Bid | ||||||
Chicago, Illinois | ||||||||
Corn processors | +0 | + | Z | +5 | + | Z | DN 5 | |
Corn elevators | -25 | + | Z | -25 | + | Z | UNC | |
Soybean elevators | -20 | + | X | -20 | + | X | UNC | |
Wheat elevators | -10 | + | Z | -10 | + | Z | UNC | |
Wheat processors | -20 | + | Z | -20 | + | Z | UNC | |
Decatur IL corn | -27 | + | Z | -32 | + | Z | UP 5 | |
Decatur IL soybeans | -5 | + | X | -10 | + | X | UP 5 | |
Burns Harbor IN corn | UNQ | UNQ | UNC | |||||
Burns Harbor IN soy | UNQ | UNQ | UNC | |||||
Lafayette IN soy | -25 | + | X | -25 | + | X | UNC | |
Toledo OH (port) | ||||||||
Corn | -35 | + | Z | -35 | + | Z | UNC | |
Soy | -45 | + | X | -35 | + | X | DN 10 | |
SRW wheat | -25 | + | Z | -25 | + | Z | UNC | |
Davenport IA (river) | ||||||||
Corn | -34 | + | Z | -34 | + | Z | UNC | |
Soy | -30 | + | X | -30 | + | X | UNC | |
Evansville IN (rail) | ||||||||
15-car CSX corn | UNQ | UNQ | UNC | |||||
Cincinnati OH (rail) | ||||||||
3-car corn | UNQ | UNQ | UNC | |||||
Hereford TX corn | +135 | + | Z | +135 | + | Z | UNC | |
Columbus OH (rail) | ||||||||
3-car corn | -45 | + | Z | -26 | + | Z | DN 19 | |
Morris IL (river) | ||||||||
Corn | -28 | + | Z | -28 | + | Z | UNC | |
Soybeans | -10 | + | X | -10 | + | X | UNC | |
Fort Worth TX corn | +135 | + | Z | +135 | + | Z | UNC | |
Blair NE corn | -15 | + | Z | -15 | + | Z | UNC | |
Council Bluffs, IA (elevator) | ||||||||
Corn | -25 | + | Z | -23 | + | Z | DN 2 | |
Soy | -55 | + | X | -55 | + | X | UNC | |
Des Moines IA soy | -40 | + | X | -40 | + | X | UNC | |
Sioux City IA soy | -20 | + | X | -20 | + | X | 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-AM
For U.S. forward basis spreadsheets, please click on:
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 AM GRA/M
- U.S. CIF/FOB Gulf Grain GRA/F
Reporting by Julie Ingwersen; Editing by Rashmi Aich
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