Nov 26 (Reuters) - Spot cash basis bids for corn and
soybeans were mostly steady in the U.S. Midwest interior on
Tuesday and country selling was quiet as producers wrapped up
the harvest, dealers said.
* Farmers have enough income that many are delaying
additional grain sales until the new year for tax purposes,
dealers said.
* The corn basis on the Illinois River at Morris, Illinois,
fell by 3 cents and the soy basis fell 2 cents, reflecting
softer CIF values for both products at the U.S. Gulf.
* The Mississippi River was closed to navigation along an
Read Also
Canola trade watches events in intermission between world’s harvests
The flow of speculative money, reacting to whatever world news is available, can be expected to steer grain and oilseed futures in this stretch between Northern and Southern Hemisphere harvests, Phil Franz-Warkentin writes.
eight-mile stretch near Le Claire, Iowa, after a boat containing
diesel fuel and lube oil struck a submerged object and sank late
on Monday, the U.S. Coast Guard said.
* One northbound towboat with no barges and two southbound
tow boats pushing a total of 25 barges were waiting at
midmorning on Tuesday to pass through the closed section from
river mile marker 493 to 501, about 15 miles upriver from
Davenport.
* This week was the last for shipping on parts of the upper
Mississippi, including McGregor and Dubuque, Iowa, as waters
typically freeze over in wintertime, bringing vessel traffic to
a halt.
* Mostly dry weather in the Midwest through early next week
should help farmers finish the last of the corn harvest, the
Commodity Weather Group said. The USDA said 95 percent of the
corn crop had been cut as of Sunday.
* Dealers have begun rolling their basis bids forward to
post against the Chicago Board of Trade March contract,
with the CBOT December contract scheduled to enter its
delivery phase later this week.
* At the CBOT, corn and wheat prices fell Tuesday on
profit-taking while soybeans clawed back earlier losses, buoyed
by a surge in front-month soymeal tied to short-covering ahead
of the December futures delivery period.
* After the CBOT close, Egypt's main wheat-buying agency,
the General Authority for Supply Commodities, set a tender to
buy wheat from global suppliers for shipment Dec. 16-31. Results
were expected on Wednesday.
Basis values are quoted against CBOT futures in cts/bu:
Current Previous
Bid Bid
Chicago
Corn processors +13 + Z +13 + Z UNC
Corn elevators +0 + Z +0 + Z UNC
Soybean elevators +5 + F +5 + F UNC
Wheat elevators +5 + Z +0 + Z UP 5
Wheat processors -10 + Z -10 + Z UNC
Decatur, IL corn +15 + Z +15 + Z UNC
soybeans +15 + F +15 + F UNC
Burns Harbor, IN corn -24 + Z -24 + Z UNC
soy -20 + F -20 + F UNC
Lafayette, IN soy +0 + F +0 + F UNC
Toledo, OH (port)
Corn -17 + H -17 + H UNC
Soy +6 + F +6 + F UNC
SRW wheat -13 + Z -13 + Z UNC
Davenport, IA (river)
Corn +0 + Z +0 + Z UNC
Soy -8 + H -2 + F NC
Evansville, IN (rail)
15-car CSX corn +8 + Z +8 + Z UNC
Cincinnati, OH (rail)
3-car corn +0 + Z +0 + Z UNC
Hereford, TX corn +95 + H +100 + Z NC
Columbus, OH (rail)
3-car corn +0 + Z +0 + Z UNC
Morris, IL (river)
Corn -7 + Z -4 + Z DN 3
Soybeans +5 + F +7 + F DN 2
Fort Worth TX corn +120 + H +130 + Z NC
Blair NE corn +0 + Z +0 + Z UNC
Council Bluffs, IA (elevator)
Corn -4 + Z -4 + Z UNC
Soy -12 + F -12 + F UNC
Des Moines, IA soy -30 + X -30 + X UNC
Sioux City, IA soy -19 + F -19 + F UNC
NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, X = November,
Z = December
----------------------------------------------------------------
LINKS:
For U.S. forward basis spreadsheets, please double-click on:
- CBOT corn report
- CBOT soybean report
- CBOT wheat report
- U.S. grain barge freight values
- U.S. Midwest cash grain PM
- U.S. CIF Gulf Grain
- U.S. FOB Gulf Grain
(Reporting by Julie Ingwersen)
U.S. Cash Grains-Corn/soy bids flat; some corn bids roll to March
By
Related Coverage
explore
Stories from our other publications
