US Cash Grains-Soy basis mostly steady-weaker; corn basis mixed

Reuters
04 Feb
US Cash Grains-Soy basis mostly steady-weaker; corn basis mixed

CHICAGO, Feb 3 (Reuters) - Spot basis bids for soybeans were mostly steady to weaker at U.S. Midwest crushing facilities on Monday while corn basis bids were mixed, spot checks showed.

* Farmer offerings of both commodities slowed last week following a period of active grain sales in mid-January that allowed end users to build up their near-term coverage.

* The spot soybean basis fell by 2 cents a bushel at a Lafayette, Indiana, soy crushing facility and the bean basis fell by 7 cents at Seneca, Illinois, on the Illinois River.

* However, the soybean basis firmed by 10 cents at an elevator in Cincinnati, Ohio.

* The corn basis firmed by 4 cents at Decatur, Illinois, a processing hub, and by 2 cents at Seneca, Illinois. But the basis for the yellow grain fell by 2 cents at a Cedar Rapids, Iowa, processing site.

* Ahead of monthly USDA soy crushing data due later on Monday, analysts surveyed by Reuters on average expect the government to report that U.S. soy processors crushed a record-high 217.6 million bushels of soybeans in December.

* Chicago Board of Trade corn and soy futures rallied on Monday, rebounding from early declines as President Donald Trump paused new tariffs on Mexico for one month.

* As of 11:42 a.m. CST (1742 GMT), CBOT March corn CH25 was up 4-1/2 cents at $4.86-1/2 a bushel and March soybeans SH25 were up 11 cents at $10.53 a bushel. GRA/

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+6

+

H

UNC

-2

+

H

UP 10

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

UNC

DES MOINES IA

UNQ

UNC

LINCOLN NE

-40

+

H

UNC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

-2

+

H

UP 4

-15

+

H

UNC

DECATUR IN

+0

+

H

UNC

MORRISTOWN IN

-5

+

H

UNC

LAFAYETTE IN

-12

+

H

DN 2

CEDAR RAPIDS IA

-18

+

H

DN 2

-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

-13

+

H

UNC

-15

+

H

UNC

SENECA IL

-13

+

H

UP 2

-27

+

H

DN 7

SAVANNA IL

-36

+

H

UNC

-41

+

H

UNC

DAVENPORT IA

-28

+

H

UNC

-32

+

H

UNC

ETHANOL PLANTS

LINDEN IN

-10

+

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

DN 5

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 Julie Ingwersen; Editing by Alan Barona)

((Julie.ingwersen@thomsonreuters.com; 1-313-484-5283; Reuters Messaging: julie.ingwersen.thomsonreuters.com@reuters.net))

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