US Cash Grains-Corn, soy basis steady-mixed in subdued trade

Reuters
02-07
US Cash Grains-Corn, soy basis steady-mixed in subdued trade

CHICAGO, Feb 6 (Reuters) - Spot basis bids for corn and soybeans were mixed in the U.S. Midwest on Thursday as farmer selling remained slow and grain and soy futures gained strength.

* Basis bids for corn fell at an Ohio elevator and increased at an Illinois processor and an Iowa river terminal.

* Basis bids for soy decreased at an Ohio elevator and increased at a river terminal in Iowa.

* 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.

* Chicago corn, wheat and soybean futures edged up on Thursday, underpinned by relief that U.S. tariffs have not sparked full-blown trade conflicts and by persistent concerns over South American crops.

* Some farmers may be waiting for higher prices before deciding to sell, dealers said.

* CBOT March corn CH25 was last up 2-3/4 cents to $4.96 a bushel and March soybeans SH25 were up 1-1/2 cents to $10.58-1/2 a bushel. GRA/

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+2

+

H

DN 3

-7

+

H

DN 3

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

-2

+

H

UP 2

-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

UNC

SAVANNA IL

-36

+

H

UNC

-41

+

H

UNC

DAVENPORT IA

-14

+

H

UP 14

-20

+

H

UP 12

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 Heather Schlitz in Chicago; Editing by Nia Williams)

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

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