July 17 (Reuters) – Spot corn basis bids were steady to lower around the U.S. Midwest on Thursday in quiet cash trade as Chicago Board of Trade corn futures settled slightly higher for the second straight session, dealers said.
* Few farmers sold corn as cash prices remained unattractive and below target selling ranges, dealers said.
* Lower CBOT soybean futures dragged on cash soybean prices, keeping farmers from selling crops, dealers said.
* Some farmers sold very light amounts of the oilseed a day earlier, but dealers said sales halted on the weaker CBOT soy futures.
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* Farmers continue to harvest soft red winter wheat in the fields but harvest is beginning to wrap up. Farmer deliveries of previously contracted wheat continued, dealers said.
* A large portion of the Mississippi River, known as the Rock Island District, was expected to reopen on Thursday or Friday to barge traffic after being closed for more than a week due to high water levels, a USDA report said.
Basis values are quoted against CBOT futures in cts/bu:
Current Previous
Bid Bid
Chicago, Illinois
Corn processors +12 + U +12 + U UNC
Corn elevators -2 + U +0 + U DN 2
Soybean elevators +45 + Q +45 + Q UNC
Wheat elevators +0 + U +0 + U UNC
Wheat processors -20 + U -20 + U UNC
Decatur IL corn +29 + U +29 + U UNC
Decatur IL soybeans +95 + Q +95 + Q UNC
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 -8 + U UNC
Soy +70 + Q +70 + Q UNC
SRW wheat +5 + U +5 + U UNC
Davenport IA (river)
Corn +8 + U +12 + U DN 4
Soy +40 + Q +40 + Q UNC
Evansville IN (rail)
15-car CSX corn +11 + U +11 + U UNC
Cincinnati OH (rail)
3-car corn +0 + U +0 + U UNC
Hereford TX corn +120 + U +120 + U UNC
Columbus OH (rail)
3-car corn +0 + U +0 + U UNC
Morris IL (river)
Corn + 6 + U +6 + U UNC
Soybeans +67 + Q +67 + Q UNC
Fort Worth TX corn +110 + U +110 + U UNC
Blair NE corn -12 + U -9 + U DN 3
Council Bluffs, IA
(elevator)
Corn -14 + U -14 + U UNC
Soy +55 + Q +55 + Q UNC
Des Moines IA soy UNQ UNQ UNC
Sioux City IA soy +65 + Q +65 + Q UNC
NOTE: 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 Matthew
Lewis)
