US Cash Grains-Processor corn basis firms as harvest winds down
CHICAGO, Oct 28 (Reuters) -Basis bids for corn were mostly steady to higher in the U.S. Midwest on Monday, firming at several processing and ethanol production plants as the harvest wound down, slowing the pace of farmer offerings, spot checks showed.
* The corn basis surged by 25 cents a bushel at a Linden, Indiana, ethanol site and firmed by 4 to 7 cents at ethanol plants in Union City, Indiana, and Council Bluffs, Iowa.
* The corn basis improved by 3 cents a bushel at Decatur, Illinois, a closely watched grain processing hub.
* For soybeans, the spot basis firmed by 10 cents at Davenport, Iowa, where grain is loaded onto barges for shipment on the Mississippi River, reflecting brisk demand from exporters at the U.S. Gulf.
* Soybean processor bids held steady after firming in multiple locations last week.
* The soybean basis tumbled by 26 cents at an elevator in Cincinnati, Ohio, retreating after a 25-cent jump at the same location on Friday.
* On the Chicago Board of Trade at mid-morning, December corn CZ24 was down 2-1/4 cents at $4.13 a bushel and January soybeans SF25 were down 8-1/4 cents at $9.89-1/4 a bushel, pressured by a steep sell-off in crude oil CLc1 futures and improved soybean planting progress in Brazil. GRA/ O/R
Basis values are quoted against CBOT futures in cts/bushel:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | -19 | + | Z | DN 1 | -11 | + | X | DN 26 | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | |||||||
DES MOINES IA | UNQ | UNC | |||||||
LINCOLN NE | -25 | + | Z | UNC | |||||
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | -16 | + | Z | UP 3 | +10 | + | X | UNC | |
DECATUR IN | -20 | + | X | UNC | |||||
MORRISTOWN IN | -10 | + | X | UNC | |||||
LAFAYETTE IN | -15 | + | X | UNC | |||||
CEDAR RAPIDS IA | -25 | + | Z | UNC | -25 | + | X | UNC | |
COUNCIL BLUFFS IA | -30 | + | X | UNC | |||||
LINCOLN NE | -30 | + | X | UNC | |||||
BLAIR NE | -15 | + | Z | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -30 | + | Z | UNC | -35 | + | X | UNC | |
SENECA IL | -35 | + | Z | UNC | -10 | + | X | UNC | |
SAVANNA IL | -56 | + | Z | UNC | -66 | + | X | UNC | |
DAVENPORT IA | -45 | + | Z | UNC | -15 | + | X | UP 10 | |
ETHANOL PLANTS | |||||||||
LINDEN IN | -40 | + | Z | UP 25 | |||||
UNION CITY IN | -25 | + | Z | UP 7 | |||||
ANNAWAN IL | -35 | + | Z | UNC | |||||
COUNCIL BLUFFS IA | -30 | + | Z | UP 4 | |||||
SRW WHEAT | |||||||||
TOLEDO OH | -20 | + | H | UNC | |||||
CINCINNATI OH | UNQ | UNC | |||||||
DECATUR IN | -75 | + | Z | 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
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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 Julie Ingwersen; Editing by David Gregorio
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