July 8 (Reuters) – Spot corn basis bids were mixed while soybean bids held mostly steady around the U.S. Midwest in quiet trade on Tuesday as farmers were reluctant crop sellers, dealers said.
* On Tuesday, Chicago Board of Trade soy fell for the seventh straight session and CBOT corn fell for the sixth straight session, dragging on cash prices and keeping farmers hesitant to sell crops.
* Some dealers noted light scattered sales of new-crop soybeans and corn in the last week, but the crops sales have not been steady due to the weak CBOT futures.
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* A western Iowa dealer said phone calls from farmers inquiring about soybean pricing tapered off on Tuesday afternoon as CBOT soybean futures fell 2.6 percent near a five-month low keeping trade in the cash market slow.
* Corn bids rose by 3 cents per bushel on the Illinois and Mississippi Rivers, but fell by same amount at a large processor in Nebraska.
* A terminal on the Mississippi River at Davenport, Iowa rolled its bid to the Chicago Board of Trade August contract, from the July. A large portion of the Mississippi River, known as the Rock Island District, has been effectively closed since last week to barge traffic due to high water levels.
* Soft red winter wheat harvest has been delayed in several parts of Ohio and Indiana due to rainy weather conditions.
* SRW winter wheat delivery pace increased in northern Ohio, but was still limited by the wet conditions. A dealer at the location expected harvest pace to pick up even more next week.
* An elevator near Chicago increased its SRW wheat bid by 5 cents per bushel to 10 cents under the Chicago Board of Trade July contract prices.
* The U.S. Department of Agriculture is scheduled to release its monthly crop supply and demand report on Friday, July 11 at 12 p.m. EDT (1600 GMT).
Basis values are quoted against CBOT futures in cts/bu:
Current Previous
Bid Bid
Chicago, Illinois
Corn processors +14 + U +15 + U DN 1
Corn elevators +0 + N +0 + N UNC
Soybean elevators -15 + N -5 + N DN 10
Wheat elevators -10 + N -15 + N UP 5
Wheat processors -20 + U -20 + U UNC
Decatur IL corn +20 + U +20 + U UNC
Decatur IL soybeans +10 + Q +100 + Q UNC
0
Burns Harbor IN corn -15 + U -15 + U UNC
Burns Harbor IN soy +45 + Q +45 + Q UNC
Lafayette IN soy +90 + Q +90 + Q UNC
Toledo OH (port)
Corn -8 + U -7 + U DN 1
Soy +70 + Q +70 + Q UNC
SRW wheat +5 + N +5 + N UNC
Davenport IA (river)
Corn +8 + U +5 + U UP 3
Soy +78 + Q +0 + N NC
Evansville IN (rail)
15-car CSX corn +14 + U +14 + U UNC
Cincinnati OH (rail)
3-car corn +6 + U +6 + U UNC
Hereford TX corn +10 + U +108 + U UNC
8
Columbus OH (rail)
3-car corn +6 + U +6 + U UNC
Morris IL (river)
Corn +13 + U +10 + U UP 3
Soybeans +90 + Q +75 + Q UP 15
Fort Worth TX corn +90 + U +90 + U UNC
Blair NE corn -3 + U +0 + U DN 3
Council Bluffs, IA
(elevator)
Corn -10 + U -10 + U UNC
Soy +55 + Q +55 + Q UNC
Des Moines IA soy UNQ UNQ UNC
Sioux City IA soy +70 + Q +70 + Q UNC
NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, N = July, 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 James
Dalgleish)
