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US Cash Grains-Soy and wheat basis firm; corn mostly steady



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CHICAGO, June 24 (Reuters) -Spot basis bids for soybeans firmed in the U.S. Midwest on Monday after futures prices hit months-long lows in the previous session, discouraging farmers from selling, merchandisers said.

* The soy basis increased by 1 cent at an Iowa river terminal and by 10 cents at an Iowa processor.

* Buyers sought to incentivize farmer selling amid relatively strong crush margins.

* The wheat basis increased by 10 cents at a wheat processor in Chicago, while corn bids decreased by 1 cent at an Indiana river terminal.

* Market players are closely monitoring weather in the U.S. Midwest, where conditions have varied from flooding to intense heat.

* Chicago Board of Trade July soybeans SN24 ended up 14-3/4 cents at $11.75-1/4 a bushel, as the market rebounded. CBOT July corn CN24 settled down 1-1/2 cents at $4.33-1/2 per bushel. GRA/


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


Current




Previous



ELEVATORS

Bid




Bid




Chicago, Illinois









Corn processors

+20

+

N


+20

+

N

UNC

Corn elevators

-10

+

N


-10

+

N

UNC

Soybean elevators

-15

+

N


-15

+

N

UNC

Wheat elevators

-10

+

N


-10

+

N

UNC

Wheat processors

-10

+

N


-20

+

N

UP 10

Decatur IL corn

+15

+

N


+15

+

N

UNC

Decatur IL soybeans

+20

+

N


+20

+

N

UNC

Burns Harbor IN corn

UNQ




UNQ



UNC

Burns Harbor IN soy

UNQ




UNQ



UNC

Lafayette IN soy

+5

+

N


+5

+

N

UNC

Toledo OH (port)









Corn

-32

+

N


-32

+

N

UNC

Soy

-35

+

N


-35

+

N

UNC

SRW wheat

-25

+

N


-25

+

N

UNC

Davenport IA (river)









Corn

-7

+

N


-7

+

N

UNC

Soy

-2

+

N


-3

+

N

UP 1

Evansville IN (rail)









15-car CSX corn

-6

+

N


-5

+

N

DN 1

Cincinnati OH (rail)









3-car corn

UNQ




UNQ



UNC

Hereford TX corn

+130

+

N


+130

+

N

UNC

Columbus OH (rail)









3-car corn

-16

+

N


-16

+

N

UNC

Morris IL (river)









Corn

-5

+

N


-5

+

N

UNC

Soybeans

-10

+

N


-10

+

N

UNC

Fort Worth TX corn

+130

+

N


+130

+

N

UNC

Blair NE corn

+30

+

N


+30

+

N

UNC

Council Bluffs, IA (elevator)









Corn

+15

+

N


+15

+

N

UNC

Soy

-20

+

N


-20

+

N

UNC

Des Moines IA soy

+5

+

N


-5

+

N

UP 10

Sioux City IA soy

-20

+

N


-20

+

N

UNC

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

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-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 Heather Schlitz
Editing by Marguerita Choy

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