US Cash Grains-Corn basis bids flat to higher as futures rise

Reuters
11 Feb
US Cash Grains-Corn basis bids flat to higher as futures rise

CHICAGO, Feb 10 (Reuters) - Spot basis bids for corn were steady to higher in the U.S. Midwest on Monday, with some locations offering a premium for corn shipped this week.

* Basis bids for corn were up at processors in Cedar Rapids, Iowa and Blair, Nebraska and at an ethanol plant in Annawan, Illinois.

* Chicago Board of Trade corn futures strengthened on Monday with analysts polled by Reuters expecting the U.S. Department of Agriculture to cut U.S. corn ending stocks in its monthly supply and demand report, due out Tuesday.

* U.S. president Donald Trump said he would order sweeping 25% tariffs on imports of steel and aluminum into the U.S., sparking fears of retaliatory tariffs against U.S. agricultural exports.

* CBOT March corn CH25 futures were up 4-1/2 cents to $4.92 per bushel at 11:49 a.m. (1749 GMT). CBOT March soybeans Sv1 were up 3/4 cent at $10.50-1/4 cents a bushel.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+2

+

H

UNC

-7

+

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

-2

+

H

UNC

-15

+

H

UNC

DECATUR IN

+0

+

H

UNC

MORRISTOWN IN

-10

+

H

UNC

LAFAYETTE IN

-12

+

H

UNC

CEDAR RAPIDS IA

-12

+

H

UP 3

-35

+

H

UNC

COUNCIL BLUFFS IA

-40

+

H

UNC

LINCOLN NE

-40

+

H

UNC

BLAIR NE

-15

+

H

UP 3

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

-10

+

H

UNC

-15

+

H

UNC

SENECA IL

-14

+

H

UNC

-30

+

H

DN 5

SAVANNA IL

-36

+

H

UNC

-41

+

H

UNC

DAVENPORT IA

-14

+

H

UNC

-20

+

H

UNC

ETHANOL PLANTS

LINDEN IN

-12

+

H

UNC

UNION CITY IN

+6

+

H

UNC

ANNAWAN IL

-15

+

H

UP 5

COUNCIL BLUFFS IA

-22

+

H

UNC

SRW WHEAT

TOLEDO OH

-30

+

H

UNC

CINCINNATI OH

UNQ

UNC

DECATUR IN

-35

+

N

UP 5

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 Renee Hickman; editing by David Evans)

((renee.hickman@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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