US Cash Grains-Soy basis down as futures fall, dollar rises

Reuters
2024-12-17
US Cash Grains-Soy basis down as futures fall, dollar rises

CHICAGO, Dec 16 (Reuters) - Spot basis bids for soybeans fell in the U.S. Midwest on Monday as futures fell and the U.S. dollar .DXY gained strength.

* The soy basis fell at an elevator in Cincinnati, Ohio, a processor in Cedar Rapids, Iowa and a river terminal in Davenport, Iowa.

* The corn basis rose at the processor in Cedar Rapids and the river terminal in Davenport, Iowa, but fell at a river terminal in Seneca, Illinois.

* The U.S. dollar hovered close to a three-week high versus other major currencies on Monday, making U.S. exports more expensive and less competitive for holders of other currencies.

* The U.S. soybean crush declined in November from an all-time high a month earlier and fell short of most trade estimates, according to National Oilseed Processors Association (NOPA) data released on Monday.

* Most-active soybean futures Sv1 traded down 1 cent at $9.87-1/4 as of 10:44 a.m. CST (1644 GMT).

* Most-active corn futures Cv1 were up 2-3/4 cents to $4.44-3/4 per bushel.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+0

+

H

UNC

+15

+

F

DN 1

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

UNC

DES MOINES IA

UNQ

UNC

LINCOLN NE

-23

+

H

UNC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

+2

+

H

UNC

+5

+

F

UNC

DECATUR IN

+10

+

F

UNC

MORRISTOWN IN

+0

+

F

UNC

LAFAYETTE IN

+5

+

F

UNC

CEDAR RAPIDS IA

-7

+

H

UP 3

-10

+

F

DN 5

COUNCIL BLUFFS IA

-15

+

F

UNC

LINCOLN NE

-15

+

F

UNC

BLAIR NE

-5

+

H

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

-24

+

H

UNC

-25

+

F

UNC

SENECA IL

-10

+

H

DN 1

+5

+

F

UNC

SAVANNA IL

-31

+

H

UNC

-36

+

F

UNC

DAVENPORT IA

-14

+

H

UP 1

-13

+

F

DN 5

ETHANOL PLANTS

LINDEN IN

-5

+

H

UNC

UNION CITY IN

+3

+

H

UNC

ANNAWAN IL

-10

+

H

UNC

COUNCIL BLUFFS IA

-10

+

H

UNC

SRW WHEAT

TOLEDO OH

-30

+

H

UNC

CINCINNATI OH

UNQ

UNC

DECATUR IN

-45

+

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 Renee Hickman; Editing by Richard Chang)

((renee.hickman@thomsonreuters.com))

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