April 25 (Reuters) - Corn spot basis bids held mostly steady
at processors and elevators around the U.S. Midwest on Friday as
rainy conditions stalled planting in the Eastern Corn Belt,
grain merchants said.
* "These weather conditions certainly are not ideal," a
Chicago-based grain trader said.
* Corn basis bids firmed by 1 cent per bushel at an terminal
on the Illinois River and by 2 cents per bushel at an elevator
in Council Bluffs, Iowa.
* U.S. corn futures rose on Friday on concerns that storms
forecast across the Midwest and colder-than-normal temperatures
Read Also
U.S. tariffs looming large over canola market
U.S. tariffs are one market headwind facing Canadian canola prices, but Chinese levies are another wrinkle coming down the pipe for farmers.
will cause further delays to planting, traders said.
* Grain merchants noted light farmer sales of corn early on
Friday as CBOT corn futures firmed but trade was largely quiet
in the later in the day, dealers said.
* Soybean basis bids firmed by 6 cents per bushel at a
Chicago elevator and by 3 cents per bushel at a Council Bluffs,
Iowa elevator, but held mostly steady at other elevators and
processors around the region.
* U.S. soybean futures rose on Friday as investors rebuilt
bull spreads due to tight U.S. supplies, traders said.
* Farmers held off on selling the remainder of old-crop
supplies even as CBOT soybeans rallied, dealers said.
Basis values are quoted against CBOT futures in cts/bu:
Current Previous
Bid Bid
Chicago, Illinois
Corn processors +4 + K +4 + K UNC
Corn elevators +2 + K +2 + K UNC
Soybean elevators +10 + K +4 + K UP 6
Wheat elevators +0 + K +0 + K UNC
Wheat processors +15 + K +15 + K UNC
Decatur IL corn +12 + K +12 + K UNC
Decatur IL soybeans +30 + K +30 + K UNC
Burns Harbor IN corn -16 + K -16 + K UNC
Burns Harbor IN soy +10 + K +10 + K UNC
Lafayette IN soy +40 + K +40 + K UNC
Toledo OH (port)
Corn -17 + K -17 + K UNC
Soy +20 + K +20 + K UNC
SRW wheat -8 + N -8 + N UNC
Davenport IA (river)
Corn +0 + K +0 + K UNC
Soy -9 + K -9 + K UNC
Evansville IN (rail)
15-car CSX corn +0 + K +0 + K UNC
Cincinnati OH (rail)
3-car corn -10 + K -10 + K UNC
Hereford TX corn +82 + K +82 + K UNC
Columbus OH (rail)
3-car corn -12 + K -12 + K UNC
Morris IL (river)
Corn +3 + K +2 + K UP 1
Soybeans +2 + K +2 + K UNC
Fort Worth TX corn +95 + K +95 + K UNC
Blair NE corn -5 + K -5 + K UNC
Council Bluffs, IA (elevator)
Corn -8 + K -10 + K UP 2
Soy +0 + K -3 + K UP 3
Des Moines IA soy UNQ UNQ UNC
Sioux City IA soy -18 + K -18 + K UNC
NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, K = May, N = July
----------------------------------------------------------------
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)
U.S. Cash Grains-Corn, soy bids mostly steady; rains delay planting
By
Related Coverage
explore
Stories from our other publications
