US Cash Grains-Soybean, corn basis mixed in stagnant trade

Reuters
02-25
US Cash Grains-Soybean, corn basis mixed in stagnant trade

CHICAGO, Feb 24 (Reuters) - Spot basis bids for soybeans were steady to mixed in the U.S. Midwest on Monday as markets lacked direction ahead of the spring planting season, while some buyers have already purchased enough crop to cover short-term needs, analysts said.

* The spot soybean basis rose at an Indiana processor, declined at an Indiana processor and increased at an Illinois river terminal.

* The corn basis ticked up at an Illinois river terminal.

* Chicago Board of Trade corn futures on Monday slipped away from an 18-month high touched on Friday on expectations that U.S. farmers will respond to a recent price rally by planting more corn.

* Soybean futures slipped as a bumper Brazilian crop weighed on prices.

* Chicago Board of Trade May corn futures CK25 were down 9 cents to $4.96 per bushel near midday on Monday. CBOT May soybeans SK25 were down 9 cents at $10.48-1/4 a bushel.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+4

+

H

UNC

+3

+

H

UNC

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

+1

+

H

UNC

-15

+

H

UNC

DECATUR IN

+5

+

H

UP 2

MORRISTOWN IN

-10

+

H

DN 10

LAFAYETTE IN

-2

+

H

UNC

CEDAR RAPIDS IA

-8

+

H

UNC

-20

+

H

UNC

COUNCIL BLUFFS IA

-40

+

H

UNC

LINCOLN NE

-40

+

H

UNC

BLAIR NE

-10

+

H

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

-10

+

H

UNC

-15

+

H

UNC

SENECA IL

-6

+

H

UP 2

-5

+

H

UP 5

SAVANNA IL

-36

+

H

UNC

-41

+

H

UNC

DAVENPORT IA

-12

+

H

UNC

-14

+

H

UNC

ETHANOL PLANTS

LINDEN IN

-5

+

H

UNC

UNION CITY IN

+8

+

H

UNC

ANNAWAN IL

-10

+

H

UNC

COUNCIL BLUFFS IA

-12

+

H

UNC

SRW WHEAT

TOLEDO OH

-30

+

H

UNC

CINCINNATI OH

-30

+

N

UNC

DECATUR IN

-45

+

H

#####

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 = July Q = 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 Susan Fenton)

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

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