Nov 12 (Reuters) - Soybean spot basis bids were steady to
mixed across the U.S. Midwest on Tuesday as the highest futures
in six weeks weighed on bids at some locations while strong
demand and a slow pace of farmer sales bolstered the basis
elsewhere, dealers said.
* Good domestic crusher demand and near-record export demand
for soybeans continued to underpin the soy basis even as the
harvest neared completion and futures gained 1 percent.
* Bids jumped 5 cents per bushel to the highest level in
more than a month at a closely monitored processor in Decatur,
Read Also
Stronger canola prices welcome surprise
Mid-November canola market holding above resistance based on durable demand, resulting in pleasantly higher canola prices for Canadian farmers
Illinois, and gained 5 cents at a processor in Sioux City, Iowa.
* But bids for the oilseed weakened 7 cents at an elevator
in Toledo, Ohio, where some farmers increased sales in recent
days. Bids also fell at an elevator in Des Moines, Iowa.
* The soy basis was mixed along Midwest rivers with support
from export demand but pressure from the higher shipping costs
associated with large volumes moving on the rivers during
harvest.
* Corn bids weakened in the southern U.S. Plains rail
markets while rail rates also decreased, traders said.
* The corn basis was largely unchanged in the Midwest as
farmer sales slowed following a large volume of trades during
the past several days.
Basis values are quoted against CBOT futures in cts/bu:
Current Previous
Bid Bid
Chicago, Illinois
Corn processors +10 + Z +10 + Z UNC
Corn elevators -5 + Z -5 + Z UNC
Soybean elevators +5 + F +0 + X NC
Wheat elevators +0 + Z +0 + Z UNC
Wheat processors -10 + Z -10 + Z UNC
Decatur IL corn +10 + Z +10 + Z UNC
Decatur IL soybeans +20 + F +15 + F UP 5
Burns Harbor IN corn -27 + Z -27 + Z UNC
Burns Harbor IN soy -6 + F -6 + F UNC
Lafayette IN soy +7 + F +7 + F UNC
Toledo OH (port)
Corn -22 + Z -22 + Z UNC
Soy +15 + F +21 + F DN 6
SRW wheat -13 + Z -13 + Z UNC
Davenport IA (river)
Corn -6 + Z -6 + Z UNC
Soy +0 + F +7 + F DN 7
Evansville IN (rail)
15-car CSX corn +2 + Z +2 + Z UNC
Cincinnati OH (rail)
3-car corn -11 + Z -11 + Z UNC
Hereford TX corn +95 + Z +110 + Z DN 15
Columbus OH (rail)
3-car corn -11 + Z -11 + Z UNC
Morris IL (river)
Corn -22 + Z -25 + Z UP 3
Soybeans +5 + F -3 + F UP 8
Fort Worth TX corn +120 + Z +135 + Z DN 15
Blair NE corn +5 + Z +5 + Z UNC
Council Bluffs, IA (elevator)
Corn -10 + Z -10 + Z UNC
Soy -15 + F -15 + F UNC
Des Moines IA soy -15 + X -5 + X DN 10
Sioux City IA soy -15 + F -20 + F UP 5
NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, X = November,
Z = December
---------------------------------------------------------------
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 Michael Hirtzer in Chicago; Editing by Grant
McCool)
U.S. Cash Grains-Soy bids mixed on higher futures, strong demand
By
Related Coverage
explore
Stories from our other publications
