US Cash Grains-Soy, corn bids mixed as demand from buyers weakens

Reuters
01-29
US Cash Grains-Soy, corn bids mixed as demand from buyers weakens

CHICAGO, Jan 28 (Reuters) - Spot basis bids for soybeans and corn were mixed in the U.S. Midwest on Tuesday, following a swell of farmer selling the previous week, while Chicago Board of Trade corn and soybean futures steadied after the previous day's slide.

* The soy basis fell at an Ohio elevator, an Illinois River terminal and Iowa River terminal. The basis rose at an Indiana processor.

* The corn basis rose at an Ohio elevator and was steady elsewhere.

* Some buyers have already purchased enough grain and oilseed for short-term needs, leading to a weakened basis in some areas, an analyst said.

* Weaker crush margins have also discouraged some buyers from raising basis bids.

* U.S. corn, soybeans and wheat steadied on Tuesday as wider markets recovered after a day-earlier slide when investors were rattled by U.S. tariff threats against Colombia and the emergence of a low-cost Chinese artificial intelligence model.

* Most-active CBOT corn futures Cv1 were last up 4-3/4 cents to $4.87 a bushel, while most-active soy futures Sv1 were last down 1/4 cent to $10.44-3/4 a bushel.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+5

+

H

UP 1

+1

+

H

DN 2

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

UNC

DES MOINES IA

UNQ

UNC

LINCOLN NE

-31

+

H

UNC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

-6

+

H

UNC

-10

+

H

UNC

DECATUR IN

+0

+

H

UNC

MORRISTOWN IN

+0

+

H

UP 5

LAFAYETTE IN

-10

+

H

UNC

CEDAR RAPIDS IA

-16

+

H

UNC

-30

+

H

UNC

COUNCIL BLUFFS IA

-40

+

H

UNC

LINCOLN NE

-40

+

H

UNC

BLAIR NE

-14

+

H

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

-18

+

H

UNC

-20

+

H

UNC

SENECA IL

-15

+

H

UNC

-20

+

H

DN 5

SAVANNA IL

-36

+

H

UNC

-41

+

H

UNC

DAVENPORT IA

-28

+

H

UNC

-32

+

H

DN 2

ETHANOL PLANTS

LINDEN IN

-10

+

H

UNC

UNION CITY IN

+3

+

H

UNC

ANNAWAN IL

-20

+

H

UNC

COUNCIL BLUFFS IA

-20

+

H

UNC

SRW WHEAT

TOLEDO OH

-25

+

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 Heather Schlitz; Editing by Rod Nickel)

((Heather.Schlitz@thomsonreuters.com;))

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