Aug 4 (Reuters) – Spot corn and soybean basis bids held mostly steady at elevators and processors around the U.S. Midwest on Monday in quiet trade, dealers said.
* Some farmers sold very light amounts of corn in an effort to empty out on-farm storage bins ahead of the upcoming fall harvest.
* Soybean trade in the cash market remained quiet as most farmers have already sold most of their old-crop soybean supplies and are unwilling to contract new-crop supplies, dealers said.
* A Midwest rail broker was busy with train car logistics rather than booking new corn contracts.
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* A corn bid fell by 3 cents per bushel at an Chicago processor.
* A Chicago-based processor rolled its soybean bid to the Chicago Board of Trade November contract, from the August .
* 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.
* 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. * The U.S. Agriculture Department said on Monday the condition of the U.S. corn crop fell more than expected in the latest week, stressed by pockets of dry conditions, but harvest expectations were still high.
* U.S. government data showed the U.S. corn crop condition as of Aug. 3 at 73 percent good to excellent, compared with 75 percent a week earlier ago and 64 percent a year ago.
* Soybeans were 71 percent good-to-excellent, unchanged from a week ago and up from 64 percent from a year ago.
Basis values are quoted against CBOT futures in cts/bu:
Current Previous
Bid Bid
Chicago, Illinois
Corn processors +22 + U +25 + U DN 3
Corn elevators -2 + U -2 + U UNC
Soybean elevators +125 + X +45 + Q NC
Wheat elevators -5 + U -5 + U UNC
Wheat processors -15 + U -15 + U UNC
Decatur IL corn +30 + U +30 + U UNC
Decatur IL +175 + X +175 + X UNC
soybeans
Burns Harbor IN -14 + U -14 + U UNC
corn
Burns Harbor IN +125 + X +125 + X UNC
soy
Lafayette IN soy UNQ X UNQ X UNC
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 +4 + U +3 + U UP 1
Soy +110 + X +130 + X DN 20
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 +125 + X UNC
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 Tom Brown)
