July 22 (Reuters) – Spot cash basis bids for soybeans were mostly steady at U.S. Midwest elevators and processors early on Tuesday in very light trade as higher Chicago Board of Trade soybean futures piqued farmers interest in booking crop sales, dealers said.
* A dealer in southern Ohio noted there were more discussions about selling than actual sales, but a few farmers sold light amounts of soybeans.
* Some Indiana farmers, encouraged by the higher CBOT soybean futures, placed soybeans in delayed price contracts hoping futures would continue to rise, a dealer said.
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* Soft red winter wheat bids also held steady as harvesting continued and farmers delivered the grain to meet existing July contracts, dealers said.
* Corn bids were mixed at Midwest river terminals, but held mostly steady at elevators and processors.
* Corn bids rose by 2 cents per bushel at a terminal on the Illinois River and by 6 cents per bushel at a Mississippi River terminal.
* The U.S. Department of Agriculture released its weekly crop progress and conditions report on Monday. The U.S. corn crop was rated 75 percent good to excellent and soybeans were rated 72 percent good to excellent.
Basis values are quoted against CBOT futures in cts/bu:
CORN SOYBEANS
CINCINNATI OH +5 + Q UNC +100 + Q UNC
BURNS HARBOR IN -15 + U UNC +45 + Q UNC
DECATUR IN -25 + U UNC
DES MOINES IA UNQ UNC
LINCOLN NE -20 + U UNC
PROCESSORS
CORN SOYBEANS
DECATUR IL +29 + U UNC +95 + Q UNC
DECATUR IN +115 + Q UNC
MORRISTOWN IN +110 + Q UNC
LAFAYETTE IN +90 + Q UNC
CEDAR RAPIDS IA +10 + U UNC +85 + Q UNC
COUNCIL BLUFFS IA +80 + Q UNC
LINCOLN NE +85 + Q UNC
BLAIR NE -10 + U DN 1
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -8 + U UNC +72 + Q UNC
SENECA IL +10 + U UNC +73 + Q UP 6
SAVANNA IL +7 + U UP 2 +20 + Q NC
DAVENPORT IA +14 + U UP 6 +35 + Q DN 5
ETHANOL PLANTS
LINDEN IN +10 + U UNC
UNION CITY IN +0 + U UNC
ANNAWAN IL +14 + U UP 3
COUNCIL BLUFFS IA -20 + U UNC
SRW WHEAT
TOLEDO OH +5 + U UNC
CINCINNATI OH +5 + U UNC
DECATUR IN +0 + U UNC
BURNS HARBOR IN +0 + U UNC
NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, Q = August,
U = September
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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 Meredith Davis in Chicago; Editing by Jeffrey
Benkoe)
