US Cash Grains-Soybean basis steady-higher as futures slide

Reuters
22 Feb
US Cash Grains-Soybean basis steady-higher as futures slide

CHICAGO, Feb 21 (Reuters) - Spot basis bids for soybeans were mostly steady to higher at elevators and processing plants around the U.S. Midwest on Friday on slow farmer sales and lower futures prices, merchants said.

* The spot soybean basis bid rose by 5 cents a bushel at a processing plant in Lafayette, Indiana, and by 8 cents at barge-loading river elevators in Seneca, Illinois.

* Spot corn basis bids were mostly unchanged to firmer at interior and river elevators on lower futures prices and amid a slowdown in farmer sales following an early week flurry of sales as prices hit 16-month highs. Bids at ethanol plants leveled after edging higher earlier in the week at some locations, while basis values at other processors were mostly flat to weaker.

* A corn processing plant in Cedar Rapids, Iowa, dropped its spot basis bid for a third straight day on Friday, shedding 3 cents a bushel for an 8-cent drop for the week. A large processor in Decatur, Illinois, held its basis bid steady after raising it by 3 cents at midweek.

* Chicago Board of Trade May corn futures CK25 were down 6-1/4 cents near midday on Friday at $5.06-1/2 a bushel. CBOT May soybeans SK25 were down 7 cents at $10.56 a bushel.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+4

+

H

UP 3

+3

+

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

+1

+

H

UNC

-15

+

H

UNC

DECATUR IN

+3

+

H

UNC

MORRISTOWN IN

+0

+

H

UNC

LAFAYETTE IN

-2

+

H

UP 5

CEDAR RAPIDS IA

-8

+

H

DN 3

-20

+

H

UNC

COUNCIL BLUFFS IA

-40

+

H

UNC

LINCOLN NE

-40

+

H

UNC

BLAIR NE

-10

+

H

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

-10

+

H

UNC

-15

+

H

UNC

SENECA IL

-8

+

H

UP 3

-10

+

H

UP 8

SAVANNA IL

-36

+

H

UNC

-41

+

H

UNC

DAVENPORT IA

-12

+

H

UNC

-14

+

H

UNC

ETHANOL PLANTS

LINDEN IN

-5

+

H

UNC

UNION CITY IN

+8

+

H

UNC

ANNAWAN IL

-10

+

H

UNC

COUNCIL BLUFFS IA

-12

+

H

UNC

SRW WHEAT

TOLEDO OH

-30

+

H

UNC

CINCINNATI OH

-30

+

N

UNC

DECATUR IN

-45

+

H

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 = July Q = 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 Karl Plume; editing by David Evans)

((karl.plume@thomsonreuters.com; +1 313 484 5285))

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.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10