US Cash Grains-Corn basis mixed; soy basis steady-weaker
CHICAGO, June 8 (Reuters) -Spot basis bids for corn were steady to mixed in the U.S. Midwest on Thursday, with the basis weakening by a nickel per bushel at Decatur, Illinois, a grain processing hub.
* The rail corn basis fell by a penny at Columbus, Ohio.
* But the basis firmed by 3 cents for railcars of corn at Evansville, Indiana, and firmed by 8 cents at Morris, Illinois, on the Illinois River.
* Grain traders said cash corn markets remained firm overall despite the mixed changes. The Chicago Board of Trade nearby July CN3 futures contract continues to trade at a hefty premium to back months, typically a reflection of strong cash markets and brisk demand for the grain.
* Soybean basis bids were steady to weaker, the basis easing by 10 cents at Decatur, Illinois, and by 20 cents at Davenport, Iowa, on the Mississippi River.
* Grain dealers have started to roll their basis bids to the Chicago Board of Trade August futures SQ3 contract for soybeans or the CBOT September contract CU3 for corn as the July futures contracts SN3, CN3 approach their delivery phase.
* Dry conditions in much of the Midwest remain a concern for farmers. Welcome rains are expected this weekend in the Great Lakes region and the southwestern Midwest, with showers next week seen favoring the southern Midwest and northern portions of the Mississippi River Delta, the Commodity Weather Group said in a client note.
Basis values are quoted against CBOT futures in cts/bu:
Current | Previous | |||||||
ELEVATORS | Bid | Bid | ||||||
Chicago, Illinois | ||||||||
Corn processors | +20 | + | N | +20 | + | N | UNC | |
Corn elevators | +45 | + | N | +45 | + | N | UNC | |
Soybean elevators | +0 | + | N | +0 | + | N | UNC | |
Wheat elevators | +0 | + | N | +0 | + | N | UNC | |
Wheat processors | -15 | + | N | -15 | + | N | UNC | |
Decatur IL corn | +45 | + | N | +50 | + | N | DN 5 | |
Decatur IL soybeans | +55 | + | N | +65 | + | N | DN 10 | |
Burns Harbor IN corn | UNQ | UNQ | UNC | |||||
Burns Harbor IN soy | UNQ | UNQ | UNC | |||||
Lafayette IN soy | +115 | + | Q | +40 | + | N | NC | |
Toledo OH (port) | ||||||||
Corn | +3 | + | N | +3 | + | N | UNC | |
Soy | +80 | + | Q | +80 | + | Q | UNC | |
SRW wheat | -25 | + | N | -25 | + | N | UNC | |
Davenport IA (river) | ||||||||
Corn | +25 | + | N | +25 | + | N | UNC | |
Soy | +10 | + | N | +30 | + | N | DN 20 | |
Evansville IN (rail) | ||||||||
15-car CSX corn | +45 | + | N | +42 | + | N | UP 3 | |
Cincinnati OH (rail) | ||||||||
3-car corn | UNQ | UNQ | UNC | |||||
Hereford TX corn | +140 | + | N | +140 | + | N | UNC | |
Columbus OH (rail) | ||||||||
3-car corn | +34 | + | N | +35 | + | N | DN 1 | |
Morris IL (river) | ||||||||
Corn | +30 | + | N | +22 | + | N | UP 8 | |
Soybeans | +0 | + | N | +0 | + | N | UNC | |
Fort Worth TX corn | +140 | + | N | +140 | + | N | UNC | |
Blair NE corn | +110 | + | U | +110 | + | U | UNC | |
Council Bluffs, IA (elevator) | ||||||||
Corn | +123 | + | U | +48 | + | N | NC | |
Soy | +80 | + | Q | +80 | + | Q | UNC | |
Des Moines IA soy | +95 | + | Q | +25 | + | N | NC | |
Sioux City IA soy | +75 | + | Q | +75 | + | Q | 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-AM
For U.S. forward basis spreadsheets, please click on:
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 AM GRA/M
- U.S. CIF/FOB Gulf Grain GRA/F
Reporting by Julie Ingwersen; Editing by Richard Chang
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