US Cash Grains-Corn basis up, soy basis down while harvest advances
CHICAGO, Oct 14 (Reuters) -Basis bids for corn were mostly higher while the soybean basis was steady to lower in the U.S. Midwest on Monday as bumper corn and soy harvests progressed, spot checks showed.
* The corn basis decreased at a processor and two ethanol plants and ticked up at one elevator.
* The soy basis increased at a river terminal and an elevator.
* Chicago corn and soybean futures extended losses on Monday after the U.S. government reiterated its expectation of bumper crops, while improving weather in Brazil added to supply pressure.
* U.S. farmers produced even more corn than expected this year, the USDA said in a report on Friday, with the country on track for its second-biggest harvest ever. The USDA trimmed its U.S. soybean forecast but production is still set to be the highest on record.
* Most-active corn Cv1 futures was last down 5 cents at $4.10-3/4 a bushel and soybean Sv1 futures dropped 1-1/2 cents to $10.04 around midday.
Basis values are quoted against CBOT futures in cts/bushel:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | -51 | + | Z | UP 1 | -40 | + | X | UP 5 | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | |||||||
DES MOINES IA | UNQ | UNC | |||||||
LINCOLN NE | -28 | + | Z | UNC | |||||
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | -27 | + | Z | DN 4 | -25 | + | X | UNC | |
DECATUR IN | -45 | + | X | UNC | |||||
MORRISTOWN IN | -45 | + | X | UNC | |||||
LAFAYETTE IN | -45 | + | X | UNC | |||||
CEDAR RAPIDS IA | -30 | + | Z | UNC | -55 | + | X | UNC | |
COUNCIL BLUFFS IA | -45 | + | X | UNC | |||||
LINCOLN NE | -40 | + | X | UNC | |||||
BLAIR NE | -15 | + | Z | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -45 | + | Z | UNC | -50 | + | X | UNC | |
SENECA IL | -44 | + | Z | UNC | -35 | + | X | UNC | |
SAVANNA IL | -36 | + | Z | UNC | -66 | + | X | UNC | |
DAVENPORT IA | -50 | + | Z | UNC | -45 | + | X | UP 10 | |
ETHANOL PLANTS | |||||||||
LINDEN IN | -45 | + | Z | UNC | |||||
UNION CITY IN | -57 | + | Z | DN 2 | |||||
ANNAWAN IL | -30 | + | Z | UNC | |||||
COUNCIL BLUFFS IA | -27 | + | Z | DN 2 | |||||
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
--------------------------------------------------------
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 Heather Schlitz
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