US Cash Grains-Corn basis flat-up on thin selling by farmers

Reuters
03-11
US Cash Grains-Corn basis flat-up on thin selling by farmers

CHICAGO, March 10 (Reuters) - Spot basis bids for corn were steady to stronger at Midwestern grain elevators, processors and river terminals on Monday, as some buyers sought to encourage more selling from reluctant farmers, brokers said.

* Soybean basis bids were mixed at elevators and processing locations.

* Farmers are expected to remain slow sellers of their crops until they have planted corn and soybeans this spring, unless prices rally, brokers said.

* A river terminal in Toledo, Ohio, raised its spot basis bid for corn by 5 cents a bushel, while a Cincinnati elevator increased its corn bid by a penny.

* Growers and traders expect the U.S. Department of Agriculture will probably not make major changes to global supply and demand estimates in a monthly report due on Tuesday.

* Chicago Board of Trade May corn futures CK25 were up 2-1/2 cents to $4.71-3/4 per bushel by 11:15 a.m. CDT (1615 GMT). CBOT May soybeans SK25 fell 9-1/4 cents to $10.15-3/4 a bushel.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

-8

+

K

UP 1

-3

+

K

UP 1

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

UNC

DES MOINES IA

UNQ

UNC

LINCOLN NE

-40

+

K

UNC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

-8

+

K

UNC

-10

+

K

UNC

DECATUR IN

+5

+

K

UNC

MORRISTOWN IN

+0

+

K

UP 5

LAFAYETTE IN

-7

+

K

UNC

CEDAR RAPIDS IA

-20

+

K

UNC

-25

+

K

DN 5

COUNCIL BLUFFS IA

-30

+

K

UP 5

LINCOLN NE

-35

+

K

UNC

BLAIR NE

-23

+

K

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

-10

+

K

UP 5

-25

+

K

UNC

SENECA IL

-20

+

K

UNC

-15

+

K

UNC

SAVANNA IL

-36

+

K

UNC

-48

+

K

UNC

DAVENPORT IA

-25

+

K

UNC

-25

+

K

UNC

ETHANOL PLANTS

LINDEN IN

-16

+

K

UNC

UNION CITY IN

+2

+

K

UNC

ANNAWAN IL

-10

+

K

UNC

COUNCIL BLUFFS IA

-22

+

K

UNC

SRW WHEAT

TOLEDO OH

-25

+

N

UNC

CINCINNATI OH

UNQ

N

UNC

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 Tom Polansek in Chicago; Editing by Richard Chang)

((Thomas.Polansek@thomsonreuters.com))

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