US Cash Grains-Soy basis mixed, corn falls as farmer selling lightens
CHICAGO, May 8 (Reuters) -Spot basis bids for corn were mostly lower while the soy basis was mixed in the U.S. Midwest on Wednesday, as farmer selling slowed to a trickle and Chicago Board of Trade futures backed off their rally.
* Farmer selling was heavy on Monday and Tuesday as soybean prices notched three-month highs.
* Buyers have now accumulated enough grains and oilseeds to get through the planting season and have little incentive to significantly raise basis bids, said Karl Setzer, partner at Consus Ag.
* The corn basis fell at two processors and an Iowa river terminal and increased at an Ohio elevator.
* The soy basis decreased at an Ohio elevator and an Indiana processor and ticked up at two Midwestern processors.
* Buyers are awaiting the U.S. Department of Agriculture's monthly supply and demand report set to be released on Friday.
* A break in rainy weather in the U.S. Midwest will allow for accelerated planting, analysts said.
Basis values are quoted against CBOT futures in cts/bu:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | -6 | + | N | UP 1 | -3 | + | N | DN 3 | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | |||||||
DES MOINES IA | UNQ | UNC | |||||||
LINCOLN NE | -13 | + | N | UNC | |||||
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | -2 | + | N | UNC | +7 | + | N | UP 6 | |
DECATUR IN | +0 | + | N | UNC | |||||
MORRISTOWN IN | +5 | + | N | DN 5 | |||||
LAFAYETTE IN | +0 | + | N | UP 5 | |||||
CEDAR RAPIDS IA | +10 | + | N | DN 2 | -10 | + | N | UNC | |
COUNCIL BLUFFS IA | -20 | + | N | UNC | |||||
LINCOLN NE | -20 | + | N | UNC | |||||
BLAIR NE | +10 | + | N | DN 2 | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -35 | + | N | UNC | -40 | + | N | UNC | |
SENECA IL | -10 | + | N | UNC | -12 | + | N | UNC | |
SAVANNA IL | -15 | + | N | UNC | -41 | + | N | UNC | |
DAVENPORT IA | -14 | + | N | DN 2 | -18 | + | N | UNC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | +5 | + | N | UNC | |||||
UNION CITY IN | -5 | + | N | UNC | |||||
ANNAWAN IL | -10 | + | N | UNC | |||||
COUNCIL BLUFFS IA | +10 | + | N | UNC | |||||
SRW WHEAT | |||||||||
TOLEDO OH | -50 | + | N | UNC | |||||
CINCINNATI OH | UNQ | UNC | |||||||
DECATUR IN | -80 | + | N | UNC | |||||
BURNS HARBOR IN | UNQ | UNC | |||||||
NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted
NC = Not comparable, DPI = 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 Heather Schlitz
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