US Cash Grains-Corn, soy basis mostly flat in subdued trade

Reuters
02-06
US Cash Grains-Corn, soy basis mostly flat in subdued trade

CHICAGO, Feb 5 (Reuters) - Spot basis bids for corn and soybeans were mostly unchanged in quiet cash trade on Wednesday as Chicago Board of Trade futures declined, discouraging farmers from booking fresh sales, grain dealers said.

* Farmers were active sellers of both crops last month, replenishing pipeline supplies, as CBOT corn CH25 and soybean SH25 futures climbed to multi-month highs.

* Grain offerings have since slowed. Some producers are holding out for higher prices to book additional sales, one broker said.

* The soybean basis fell by 2 cents a bushel at a Cincinnati, Ohio, elevator, and rose by 2 cents at Seneca, Illinois, where grain is loaded onto barges for shipment on the Illinois River toward Gulf Coast exporters.

* Basis bids for soybeans and corn were unchanged elsewhere.

* As of 12:01 p.m. CST (1801 GMT), CBOT March corn CH25 was down 4-1/4 cents at $4.90-1/4 a bushel and March soybeans SH25 were down 19-1/2 cents at $10.55-1/2 a bushel. GRA/

Basis values are quoted against CBOT futures in cts/bu:

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+5

+

H

UNC

-4

+

H

DN 2

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

UNC

DES MOINES IA

UNQ

UNC

LINCOLN NE

-35

+

H

UNC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

-4

+

H

UNC

-15

+

H

UNC

DECATUR IN

+0

+

H

UNC

MORRISTOWN IN

-10

+

H

UNC

LAFAYETTE IN

-12

+

H

UNC

CEDAR RAPIDS IA

-15

+

H

UNC

-35

+

H

UNC

COUNCIL BLUFFS IA

-40

+

H

UNC

LINCOLN NE

-40

+

H

UNC

BLAIR NE

-18

+

H

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

-10

+

H

UNC

-15

+

H

UNC

SENECA IL

-14

+

H

UNC

-25

+

H

UP 2

SAVANNA IL

-36

+

H

UNC

-41

+

H

UNC

DAVENPORT IA

-28

+

H

UNC

-32

+

H

UNC

ETHANOL PLANTS

LINDEN IN

-12

+

H

UNC

UNION CITY IN

+6

+

H

UNC

ANNAWAN IL

-20

+

H

UNC

COUNCIL BLUFFS IA

-22

+

H

UNC

SRW WHEAT

TOLEDO OH

-30

+

H

UNC

CINCINNATI OH

UNQ

UNC

DECATUR IN

-40

+

N

UNC

BURNS HARBOR IN

UNQ

UNC

NOTE: 0 = Option price, UNC = Unchanged, UNQ = Unquoted

NC = Not comparable, DP = Delayed price, N/A = Not available,

F = January, H = March, K = May, N = JulyQ = August, U = September, X = November, Z = December

--------------------------------------------------------

LINKS: 0#USCSHGRN-PM

For U.S. forward basis spreadsheets, please click:

CORN/BASIS, SOYA/BASIS, WHEAT/BASIS, MILO/BASIS

- CBOT corn report COR/

- CBOT soybean report SOY/C

- CBOT wheat report WHE/C

- U.S. grain barge freight values BG/US

- U.S. Midwest cash grain PM GRA/PM

- U.S. CIF/FOB Gulf Grain GRA/F

(Reporting by Julie Ingwersen in Chicago; Editing by Nia Williams)

((Julie.ingwersen@thomsonreuters.com; 1-313-484-5283; Reuters Messaging: julie.ingwersen.thomsonreuters.com@reuters.net))

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