US Cash Grains-Spot soybean basis mostly steady-higher, corn bids mixed

Reuters
7 hours ago
US Cash Grains-Spot soybean basis mostly steady-higher, corn bids mixed

CHICAGO, April 23 (Reuters) - Spot basis bids for soybeans delivered to U.S. Midwest processing plants and elevators were mostly steady to higher on Wednesday on slow farmer sales, grain dealers said.

* Spot corn basis bids were mixed at Midwest elevators and processing plants.

* Scattered rains across the central United States have stalled corn and soybean planting after farmers had made strong early progress seeding their spring crops. Growers are now waiting for the soil to dry out before resuming field work.

* A large soybean processing plant in Decatur, Illinois, lifted its spot basis bid by 5 cents a bushel on Wednesday. A river elevator in northern Iowa raised its spot soy bid by 2 cents.

* Chicago Board of Trade soybean futures Sv1 were higher for a second straight session on Wednesday, but cash prices remained below many growers' sales price targets, grain merchants said. Corn futures Cv1 were down.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+7

+

K

DN 1

+9

+

K

UNC

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

UNC

DES MOINES IA

UNQ

UNC

LINCOLN NE

-25

+

K

UNC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

+14

+

K

UNC

+20

+

K

UP 5

DECATUR IN

+25

+

K

UNC

MORRISTOWN IN

+25

+

K

UNC

LAFAYETTE IN

+25

+

K

UNC

CEDAR RAPIDS IA

+1

+

K

DN 4

+5

+

K

UNC

COUNCIL BLUFFS IA

+0

+

K

UNC

LINCOLN NE

-10

+

K

UNC

BLAIR NE

-4

+

K

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

+0

+

K

UNC

+0

+

K

UNC

SENECA IL

+0

+

K

UNC

-2

+

K

UNC

SAVANNA IL

-24

+

K

UP 2

-36

+

K

UNC

DAVENPORT IA

-8

+

K

UP 1

-8

+

K

UP 2

ETHANOL PLANTS

LINDEN IN

+5

+

K

UNC

UNION CITY IN

+17

+

K

UNC

ANNAWAN IL

-12

+

K

DN 4

COUNCIL BLUFFS IA

-8

+

K

UNC

SRW WHEAT

TOLEDO OH

-35

+

K

UNC

CINCINNATI OH

UNQ

UNC

DECATUR IN

-40

+

K

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 in Chicago; Editing by Mark Porter)

((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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