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

Reuters
07 Feb
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;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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