US Cash Grains-Corn, soybean basis up as buyers entice selling

Reuters
03-04
US Cash Grains-Corn, soybean basis up as buyers entice selling

CHICAGO, March 3 (Reuters) - Spot basis bids for soybeans and corn were steady to higher in the U.S. Midwest as some buyers sought to incentivize sales by farmers and producers turned their attention to spring planting plans, dealers and an analyst said.

* Corn basis bids increased at two processors and an ethanol plant.

* The soy basis increased at an Iowa processor and was steady elsewhere.

* Farmers have been reluctant to sell at weak Chicago Board of Trade futures prices.

* Truck movement has been light amid spring road weight restrictions, which are typically put in place to protect roads during the spring thaw.

* Buyers have finished rolling basis bids over to the CBOT May futures contract.

* Chicago Board of Trade May corn futures CK25 were down 12-1/4 cents at $4.57 per bushel at midday. CBOT May soybeans SK25 fell 17-1/4 cents to $10.08-3/4 a bushel.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

-12

+

K

NC

-5

+

K

NC

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

UNC

DES MOINES IA

UNQ

UNC

LINCOLN NE

-30

+

K

NC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

-6

+

K

UP 2

-19

+

K

UNC

DECATUR IN

-5

+

K

UNC

MORRISTOWN IN

-5

+

K

UNC

LAFAYETTE IN

-12

+

K

NC

CEDAR RAPIDS IA

-20

+

K

NC

-20

+

K

UNC

COUNCIL BLUFFS IA

-40

+

K

UP 5

LINCOLN NE

-35

+

K

NC

BLAIR NE

-26

+

K

UP 2

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

-15

+

K

UNC

-25

+

K

UNC

SENECA IL

-23

+

K

UNC

-19

+

K

UNC

SAVANNA IL

-42

+

K

UNC

-52

+

K

UNC

DAVENPORT IA

-12

+

K

NC

-25

+

K

NC

ETHANOL PLANTS

LINDEN IN

-18

+

K

NC

UNION CITY IN

-6

+

K

UNC

ANNAWAN IL

-20

+

K

UP 5

COUNCIL BLUFFS IA

-24

+

K

NC

SRW WHEAT

TOLEDO OH

-25

+

N

NC

CINCINNATI OH

UNQ

N

NC

DECATUR IN

-45

+

K

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)

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

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