U.S. Cash Grains-Corn basis bids steady to firm; soy steady/mixed

May 15 (Reuters) – Corn spot basis bids were steady to higher around the U.S. Midwest early on Thursday in quiet trade as rainy weather kept farmers out of the fields, dealers said.

* Soybean bids were steady to narrowly mixed at processors and river terminals.

* A couple processors increased their soybean bids as farmer sales of old-crop soybeans remain slow.

* Farmers showed some interested in selling soybean as cash prices reached $15 per bushel in Council Bluffs, Iowa, a dealer said.

* A couple of dealers noticed a slight increase in crop delivery pace as rainy and wet conditions kept farmers from planting.

* Heavy rain and thunderstorms are forecast for the northern portion of the Eastern Corn Belt, according to the National Weather Service.

* The National Oilseed Processors Association’s monthly soybean crush data scheduled for release at 11 a.m. (1600 GMT) on Thursday should show the U.S. crush for April at 132.26 million bushels, according to the average forecast of nine analysts in a Reuters poll.

Basis values are quoted against CBOT futures in cts/bu:
    
                    CORN                   SOYBEANS           
 CINCINNATI OH         -10  +  N  UNC      +40     +  N  UP 5
 BURNS HARBOR IN       -15  +  N  UNC      +22     +  N  UNC
 DECATUR IN            -30  +  N  UNC                         
 DES MOINES IA                             UNQ           UNC
 LINCOLN NE            -19  +  N  UNC                    
                                                              
 PROCESSORS                                                   
                    CORN                   SOYBEANS           
 DECATUR IL            +14  +  N  UNC      +40     +  N  UNC
 DECATUR IN                                +65     +  N  UP 5
 MORRISTOWN IN                             +55     +  N  UNC
 LAFAYETTE IN                              +55     +  N  UNC
 CEDAR RAPIDS IA       +10  +  N  UNC      +17     +  N  UNC
 COUNCIL BLUFFS IA                         +18     +  N  UP 3
 LINCOLN NE                                 +5     +  N  DN 10
 BLAIR NE               -9  +  N  UP 2                        
                                                              
 RIVER TERMINALS                                              
                    CORN                   SOYBEANS           
 TOLEDO OH             -19  +  N  UNC      +30     +  N  UNC
 SENECA IL              +1  +  N  UP 1      +8     +  N  DN 1
 SAVANNA IL             -6  +  N  UNC       +2     +  N  UP 2
 DAVENPORT IA           -1  +  N  UNC      +10     +  N  UP 5
                                                              
 ETHANOL PLANTS                                               
 LINDEN IN              -3  +  N  UP 4                        
 UNION CITY IN          +0  +  N  UNC                         
 ANNAWAN IL             -3  +  N  UNC                         
	
COUNCIL BLUFFS IA -14 + N UP 1 SRW WHEAT TOLEDO OH -8 + N UNC CINCINNATI OH -10 + N UNC DECATUR IN -15 + N UNC BURNS HARBOR IN -20 + N UNC NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted, NC = Not comparable, DP = Delayed Price, N = July --------------------------------------------------------------- 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)

About the author

Comments

explore

Stories from our other publications