Aug 21 (Reuters) – Spot soybean processor bids were steady to higher around the U.S. Midwest on Thursday amid tight old-crop soybean supplies, dealers said.
* Soybean bids continue to rise, increasing by another 10 to 25 cents per bushel at some processors around the region.
* A lack of old-crop soybeans and slow sales from farmers kept inventory levels low at some processors.
* Soybean futures on the Chicago Board of Trade ended mixed on Thursday, with front-month September continuing to gain against back months on tight U.S. old-crop supplies and strong processor demand, traders said.
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* Spot corn river bids rose 1 to 4 cents on Midwest river ways, while corn bids were mostly flat at elevators and processors around the region, dealers said.
* Rains falling on Thursday in northeast and east-central Iowa should help fill corn kernels and soybean pods, adding to already bountiful harvest prospects in the top growing state, scouts said on the final day of an annual U.S. crop tour.
* Rains falling on Thursday in northeast and east-central Iowa should help fill corn kernels and soybean pods, adding to already bountiful harvest prospects in the top growing state, scouts said on the final day of an annual U.S. crop tour.
Basis values are quoted against CBOT futures in cts/bu:
Current Previous
Bid Bid
Chicago, Illinois
Corn processors +25 + U +25 + U UNC
Corn elevators +0 + U +0 + U UNC
Soybean elevators +175 + X +175 + X UNC
Wheat elevators -5 + U -5 + U UNC
Wheat processors -10 + U -10 + U UNC
Decatur IL corn +40 + U +40 + U UNC
Decatur IL +310 + X +290 + X UP 20
soybeans
Burns Harbor IN -8 + U -8 + U UNC
corn
Burns Harbor IN +175 + X +175 + X UNC
soy
Lafayette IN soy +265 + X +265 + X UNC
Toledo OH (port)
Corn -3 + U -3 + U UNC
Soy +170 + X +170 + X UNC
SRW wheat +15 + U +15 + U UNC
Davenport IA
(river)
Corn +10 + U +9 + U UP 1
Soy +115 + X +115 + X UNC
Evansville IN
(rail)
15-car CSX corn +12 + U +12 + U UNC
Cincinnati OH
(rail)
3-car corn -3 + U -3 + U UNC
Hereford TX corn +115 + U +115 + U UNC
Columbus OH (rail)
3-car corn +10 + U +10 + U UNC
Morris IL (river)
Corn +16 + U +12 + U UP 4
Soybeans +240 + X +215 + X UP 25
Fort Worth TX corn +120 + U +120 + U UNC
Blair NE corn +0 + U +0 + U UNC
Council Bluffs, IA
(elevator)
Corn -4 + U -4 + U UNC
Soy +100 + X +100 + X UNC
Des Moines IA soy UNQ UNQ UNC
Sioux City IA soy +250 + X +240 + X UP 10
NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, 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 Diane
Craft)
