U.S. Cash Grains-Soy, corn bids mostly steady; light farmer soy sales

July 22 (Reuters) – Spot cash basis bids for soybeans were mostly steady at U.S. Midwest elevators and processors early on Tuesday in very light trade as higher Chicago Board of Trade soybean futures piqued farmers interest in booking crop sales, dealers said.

* A dealer in southern Ohio noted there were more discussions about selling than actual sales, but a few farmers sold light amounts of soybeans.

* Some Indiana farmers, encouraged by the higher CBOT soybean futures, placed soybeans in delayed price contracts hoping futures would continue to rise, a dealer said.

* Soft red winter wheat bids also held steady as harvesting continued and farmers delivered the grain to meet existing July contracts, dealers said.

* Corn bids were mixed at Midwest river terminals, but held mostly steady at elevators and processors.

* Corn bids rose by 2 cents per bushel at a terminal on the Illinois River and by 6 cents per bushel at a Mississippi River terminal.

* The U.S. Department of Agriculture released its weekly crop progress and conditions report on Monday. The U.S. corn crop was rated 75 percent good to excellent and soybeans were rated 72 percent good to excellent.

Basis values are quoted against CBOT futures in cts/bu:
    
                     CORN                  SOYBEANS          
 CINCINNATI OH          +5  +  Q  UNC       +100   +  Q  UNC
 BURNS HARBOR IN       -15  +  U  UNC        +45   +  Q  UNC
 DECATUR IN            -25  +  U  UNC                        
 DES MOINES IA                               UNQ         UNC
 LINCOLN NE            -20  +  U  UNC                    
                                                             
 PROCESSORS                                                  
                     CORN                  SOYBEANS          
 DECATUR IL            +29  +  U  UNC        +95   +  Q  UNC
 DECATUR IN                                 +115   +  Q  UNC
 MORRISTOWN IN                              +110   +  Q  UNC
 LAFAYETTE IN                                +90   +  Q  UNC
 CEDAR RAPIDS IA       +10  +  U  UNC        +85   +  Q  UNC
 COUNCIL BLUFFS IA                           +80   +  Q  UNC
 LINCOLN NE                                  +85   +  Q  UNC
 BLAIR NE              -10  +  U  DN 1                       
                                                             
 RIVER TERMINALS                                             
                     CORN                  SOYBEANS          
	
TOLEDO OH -8 + U UNC +72 + Q UNC SENECA IL +10 + U UNC +73 + Q UP 6 SAVANNA IL +7 + U UP 2 +20 + Q NC DAVENPORT IA +14 + U UP 6 +35 + Q DN 5 ETHANOL PLANTS LINDEN IN +10 + U UNC UNION CITY IN +0 + U UNC ANNAWAN IL +14 + U UP 3 COUNCIL BLUFFS IA -20 + U UNC SRW WHEAT TOLEDO OH +5 + U UNC CINCINNATI OH +5 + U UNC DECATUR IN +0 + U UNC BURNS HARBOR IN +0 + U UNC NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted, NC = Not comparable, DP = Delayed Price, Q = August, U = September --------------------------------------------------------------- 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 Jeffrey Benkoe)

About the author

Comments

explore

Stories from our other publications