Jan 9 (Reuters) - Cash basis bids for corn and soybeans were
mostly steady to higher across the U.S. Midwest early on
Thursday, bolstered by a slow pace of farmer sales and strong
demand from soy processors and corn ethanol plants, dealers
said.
* The basis at several locations, including a major corn and
soybean processor in central Illinois, were at the highest
levels since before harvest in September.
* Heavy snowfall and bitter cold in much of the region
continued to limit access to on-farm storage bins and the large
crushing operations were boosting bids in an effort to entice
Read Also
U.S. tariffs looming large over canola market
U.S. tariffs are one market headwind facing Canadian canola prices, but Chinese levies are another wrinkle coming down the pipe for farmers.
farmer sales and deliveries.
* Some growers were selling small amounts of the crops they
stored at commercial facilities on a "delayed price" basis but
there was little fresh grain moving off the farm, dealers said.
* Bids were mostly steady to higher but soy bids eased at
two Iowa processors, in Cedar Rapids and Iowa Falls, while corn
bids declined along the Illinois River.
Basis values quoted against CBOT futures in cents/bushel:
CORN SOYBEANS
CINCINNATI OH -10 + H UNC +19 + H UNC
BURNS HARBOR IN -17 + H UNC -8 + H UNC
DECATUR IN -10 + H UNC
DES MOINES IA UNQ UNC
LINCOLN NE -18 + H UNC
PROCESSORS
CORN SOYBEANS
DECATUR IL +30 + H UP 15 +35 + H UP 5
DECATUR IN +12 + H UNC
MORRISTOWN IN +22 + H UP 2
LAFAYETTE IN +17 + H UNC
CEDAR RAPIDS IA +20 + H UNC -8 + H DN 5
COUNCIL BLUFFS IA +0 + H UP 7
LINCOLN NE -12 + H UP 3
BLAIR NE +5 + H UNC
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -13 + H UP 1 +13 + H UP 4
SENECA IL -17 + H DN 4 +36 + H UP 2
SAVANNA IL -12 + H UP 3 +2 + H UNC
DAVENPORT IA -3 + H UNC -8 + H UNC
ETHANOL PLANTS
LINDEN IN +15 + H UNC
UNION CITY IN +7 + H UP 1
ANNAWAN IL +9 + H UP 3
COUNCIL BLUFFS IA -5 + H UNC
SRW WHEAT
TOLEDO OH -14 + H UNC
CINCINNATI OH -42 + H UNC
DECATUR IN -5 + H UNC
BURNS HARBOR IN -35 + H UNC
NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, H = March
---------------------------------------------------------------
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 Michael Hirtzer in Chicago; Editing by Marguerita
Choy)
U.S. Cash Grains-Bids steady to higher as sales remain light
By
Related Coverage
explore
Stories from our other publications
