August 1 (Reuters) – Spot corn basis bids were steady to slightly lower at elevators and processors around the U.S. Midwest on Friday in quiet trade, dealers said.
* Some farmers sold corn and delivered old-crop supplies in an effort to empty out on-farm storage bins ahead of the upcoming fall harvest.
* A corn bid fell by 5 cents per bushel at an Indiana processor.
* Some farmers called to price bushels of soft red winter wheat that was previously placed in delayed pricing programs as Chicago Board of Trade wheat futures rose.
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* A wheat processor in Illinois increased its wheat bid by 5 cents per bushel in an effort to entice farmers to sell a few more bushels of the recently harvested grain.
* Soy trade was quiet as farmers have already sold most of their old-crop soybean supplies and were not aggressively booking sales of new-crop supplies, dealers said.
Basis values are quoted against CBOT futures in cts/bu:
Current Previous
Bid Bid
Chicago, Illinois
Corn processors +25 + U +25 + U UNC
Corn elevators -2 + U -2 + U UNC
Soybean elevators +45 + Q +45 + Q UNC
Wheat elevators -5 + U -5 + U UNC
Wheat processors -15 + U -20 + U UP 5
Decatur IL corn +30 + U +30 + U UNC
Decatur IL soybeans +175 + X +175 + X UNC
Burns Harbor IN corn -14 + U -14 + U UNC
Burns Harbor IN soy +125 + X +130 + X DN 5
Lafayette IN soy UNQ X +225 + X NC
Toledo OH (port)
Corn -9 + U -9 + U UNC
Soy +170 + X +170 + X UNC
SRW wheat +5 + U +5 + U UNC
Davenport IA (river)
Corn +3 + U +4 + U DN 1
Soy +130 + X +135 + X DN 5
Evansville IN (rail)
15-car CSX corn +12 + U +12 + U UNC
Cincinnati OH (rail)
3-car corn -5 + U -5 + 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 +5 + U +5 + U UNC
Soybeans +35 + Q +35 + Q UNC
Fort Worth TX corn +120 + U +120 + U UNC
Blair NE corn -10 + U -10 + U UNC
Council Bluffs, IA
(elevator)
Corn -15 + U -15 + U UNC
Soy +100 + X +100 + X UNC
Des Moines IA soy UNQ UNQ UNC
Sioux City IA soy +125 + X +135 + X DN
10
NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, Q = August,
U = September, X = November
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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 David
Gregorio)
