US Cash Grains-Soybean basis bids mostly steady to firm as futures dip

Reuters
27 Feb
US Cash Grains-Soybean basis bids mostly steady to firm as futures dip

CHICAGO, Feb 26 (Reuters) - Spot basis bids for soybeans delivered to interior elevators and processing plants around the U.S. Midwest were mostly steady to higher on Wednesday as futures declined and farmer selling remained limited, merchants said.

* Soy basis bids at river elevators were flat as demand from exporters continued to slow seasonally.

* Spot corn basis bids were mixed at river elevators, steady at ethanol plants and steady to firm at other processors after a slowdown in farmer sales.

* A large corn processor in Decatur, Illinois, raised its spot basis bid by 2 cents a bushel on Wednesday.

* Chicago Board of Trade corn and soy futures eased on Wednesday on improving South American crop weather and as traders squared positions ahead of the annual U.S. Department of Agriculture outlook forum on Thursday.

* At the outlook forum, the USDA is expected to project a jump in U.S. corn acres this spring and a decline in soybean acres. The agency will publish its acreage estimates early on Thursday along with its grains and oilseeds outlook.

* Chicago Board of Trade May corn futures CK25 were down 1-1/4 cents at $4.93 per bushel near midday on Wednesday. CBOT May soybeans SK25 were down 7-3/4 cents at $10.41 a bushel.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+4

+

H

UNC

+3

+

H

UP 1

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

+3

+

H

UP 2

-5

+

H

UNC

DECATUR IN

+10

+

H

UNC

MORRISTOWN IN

+5

+

H

UNC

LAFAYETTE IN

+0

+

H

UP 2

CEDAR RAPIDS IA

-10

+

H

UNC

-20

+

H

UNC

COUNCIL BLUFFS IA

-40

+

H

UNC

LINCOLN NE

-40

+

H

UNC

BLAIR NE

-12

+

H

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

-10

+

H

UNC

-15

+

H

UNC

SENECA IL

-6

+

H

DN 1

-5

+

H

UNC

SAVANNA IL

-31

+

H

UP 5

-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 = 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 Karl Plume; Editing by Paul Simao)

((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.

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