US Cash Grains-Soybean basis bids steady to higher as futures tumble

Reuters
13 Feb
US Cash Grains-Soybean basis bids steady to higher as futures tumble

CHICAGO, Feb 12 (Reuters) - Spot basis bids for soybeans were steady to up at processors and river terminals in the U.S. Midwest on Wednesday as futures fell sharply.

* Basis bids for soybeans rose at a processor in Cedar Rapids, Iowa and a river terminal in Davenport, Iowa.

* Corn basis bids were up 2 cents at a river terminal in Seneca, Illinois.

* Chicago Board of Trade soybean futures fell on Wednesday as the market digested a higher-than-expected soybean stocks forecast from the U.S. Department of Agriculture, according to analysts, as well as ongoing concerns over Chinese demand.

* CBOT March soybeans SH25 were down 17-1/4 cents to $10.26-1/4 at 11:42 a.m. CST (1742 GMT).

* CBOT March corn futures were up 3-1/2 cents to $4.87-1/2 per bushel.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+2

+

H

UNC

-8

+

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

-9

+

H

UNC

-30

+

H

UP 5

COUNCIL BLUFFS IA

-40

+

H

UNC

LINCOLN NE

-40

+

H

UNC

BLAIR NE

-15

+

H

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

-10

+

H

UNC

-15

+

H

UNC

SENECA IL

-12

+

H

UP 2

-30

+

H

UNC

SAVANNA IL

-36

+

H

UNC

-41

+

H

UNC

DAVENPORT IA

-12

+

H

UNC

-18

+

H

UP 2

ETHANOL PLANTS

LINDEN IN

-12

+

H

UNC

UNION CITY IN

+6

+

H

UNC

ANNAWAN IL

-5

+

H

UNC

COUNCIL BLUFFS IA

-22

+

H

UNC

SRW WHEAT

TOLEDO OH

-30

+

H

UNC

CINCINNATI OH

UNQ

UNC

DECATUR IN

-35

+

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 Renee Hickman; Editing by Alan Barona)

((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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