May 1 (Reuters) – Spot basis bids for corn and soybeans held steady at processors and elevators around the U.S. Midwest early on Thursday as lower Chicago Board of Trade futures pressured cash prices, dealers said.
* Weaker CBOT corn and soybean prices early on Thursday kept farmers uninterested in selling crops, grain merchants said.
* Planting progress remains slow as cool temperatures and wet conditions largely keep farmers out of the fields, dealers said.
* Farmers checked equipment and worked on other pre-planting chores in areas of the Eastern Corn Belt where rain or damp fields kept them from planting, Ohio and Indiana dealers said.
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* In the Western Corn Belt, some farmers began to plant soybean crops early in the week but were also forced out of the fields by wet weather, a dealer in western Iowa said.
* Weather conditions may improve by the weekend allowing some farmers to return to the fields, dealers said.
* Several dealers rolled basis bids to the Chicago Board of Trade July contract, from the May contract.
* A corn bids eased by 1 cent per bushel at an Illinois ethanol plant.
* Agribusiness giant Bunge Ltd posted a first-quarter net loss on Thursday on losses in its grain trading and distribution business and poor oilseed processing margins in China.
Basis values are quoted against CBOT futures in cts/bu:
CORN SOYBEANS
CINCINNATI OH -11 + N NC +30 + N NC
BURNS HARBOR IN -20 + N NC -10 + N NC
DECATUR IN -30 + N UNC
DES MOINES IA UNQ UNC
LINCOLN NE -22 + N NC
PROCESSORS
CORN SOYBEANS
DECATUR IL +10 + N NC +35 + N UNC
DECATUR IN +55 + N UNC
MORRISTOWN IN +50 + N NC
LAFAYETTE IN +40 + K UNC
CEDAR RAPIDS IA +1 + N UNC +5 + N NC
COUNCIL BLUFFS IA +7 + N UNC
LINCOLN NE +3 + N UNC
BLAIR NE -5 + K UNC
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -23 + N UNC +27 + N UNC
SENECA IL +4 + K UP 1 +2 + K UNC
SAVANNA IL -4 + K UNC -8 + K UNC
DAVENPORT IA -6 + N NC +7 + N NC
ETHANOL PLANTS
LINDEN IN -3 + K UNC
UNION CITY IN -8 + N UNC
ANNAWAN IL -3 + N DN 1
COUNCIL BLUFFS IA -14 + N UNC
SRW WHEAT
TOLEDO OH -8 + N UNC
CINCINNATI OH -25 + N UNC
DECATUR IN -15 + N UNC
BURNS HARBOR IN -25 + N UNC
NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, K = May, N = July
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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 Marguerita
Choy)
