July 10 (Reuters) – Spot corn basis bids were steady to narrowly mixed, while soybean bids held steady around the U.S. Midwest on Thursday, dealers said.
* Chicago Board of Trade corn and soy futures fell.
* Some farmers booked light corn sales on fears CBOT corn futures would fall further and drag cash prices even lower, dealers in northern Ohio said.
* In western Iowa, farmers held off on booking sales due to the low CBOT corn futures, a grain merchant said.
* CBOT corn fell for the 8th straight session pressured by good crop weather. CBOT soy fell on expectations of a large crop.
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* A corn bid rose by 3 cents per bushel at a closely followed processor in Decatur, Illinois.
* Bids for shipped by rail were 3 to 6 cents per bushel lower in Ohio and Indiana. Corn bids fell by 2 cents per bushel at a processor in Nebraska.
* Soft red winter wheat was getting underway in the eastern Midwest, but at a slow pace due to pockets of wet fields. Grain merchants expect harvest to increase next week barring any additional heavy rain storms.
* A large portion of the Mississippi River, known as the Rock Island District, has been effectively closed to barge traffic since last week because of high water levels.
* 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 +14 + U UNC
Corn elevators +0 + N +0 + N UNC
Soybean elevators +45 + Q -15 + N NC
Wheat elevators +0 + U -10 + N NC
Wheat processors -20 + U -20 + U UNC
Decatur IL corn +23 + U +20 + U UP 3
Decatur IL +10 + Q +105 + Q DN 5
soybeans 0
Burns Harbor IN -15 + U -15 + U UNC
corn
Burns Harbor IN +45 + Q +45 + Q UNC
soy
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 + N +5 + N UNC
Davenport IA
(river)
Corn +13 + U +8 + U UP 5
Soy +80 + Q +78 + Q UP 2
Evansville IN
(rail)
15-car CSX corn +11 + U +14 + U DN 3
Cincinnati OH
(rail)
3-car corn +0 + U +6 + U DN 6
Hereford TX corn +10 + U +108 + U UNC
8
Columbus OH
(rail)
3-car corn +0 + U +6 + U DN 6
Morris IL (river)
Corn +14 + U +14 + U UNC
Soybeans +85 + Q +85 + Q UNC
Fort Worth TX +11 + U +90 + U UP 20
corn 0
Blair NE corn -5 + U -3 + U DN 2
Council Bluffs, IA
(elevator)
Corn -12 + U -12 + 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, 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 Grant
McCool)
