US Cash Grains-Soy basis strengthens as harvest winds down
CHICAGO, Oct 25 (Reuters) -Basis bids for soybeans were steady to stronger at elevators and processing plants in the U.S. Midwest on Friday, reflecting brisk demand for the oilseed as the harvest of a record-large crop wound down, merchandisers said.
* The soybean harvest is nearly complete in many areas and farmers are still bringing in corn, with only minor scattered rain delays late this week.
* The soybean basis surged by 25 cents a bushel at a Cincinnati, Ohio, elevator and by 10 cents at a Toledo, Ohio, terminal. The basis firmed by 5 cents for a second straight day at a Lafayette, Indiana, soy crushing facility.
* For corn, the basis improved by 5 cents a bushel at a Cedar Rapids, Iowa, processor, by 3 cents at an Indiana ethanol facility and by a penny at Cincinnati.
* But the corn basis fell by 5 cents at Savanna, Illinois, where grain is loaded onto barges for shipment on the Mississippi River toward exporters at the Gulf. Rising costs for barge freight this week have pressured the basis at Midwest river elevators. BG/US
* On the Chicago Board of Trade near mid-session, December corn CZ24 was down 6-1/2 cents at $4.15 a bushel and November soybeans SX24 were down 9-3/4 cents at $9.86-1/2 a bushel, easing after this week's export-driven rally. GRA/
Basis values are quoted against CBOT futures in cts/bushel:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | -18 | + | Z | UP 1 | +15 | + | X | UP 25 | |
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 | -19 | + | Z | UNC | +10 | + | X | UNC | |
DECATUR IN | -20 | + | X | UNC | |||||
MORRISTOWN IN | -10 | + | X | UNC | |||||
LAFAYETTE IN | -15 | + | X | UP 5 | |||||
CEDAR RAPIDS IA | -25 | + | Z | UP 5 | -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 | UP 5 | -35 | + | X | UP 10 | |
SENECA IL | -35 | + | Z | UNC | -10 | + | X | UNC | |
SAVANNA IL | -56 | + | Z | DN 5 | -66 | + | X | UNC | |
DAVENPORT IA | -45 | + | Z | UNC | -25 | + | X | UNC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | -65 | + | Z | UNC | |||||
UNION CITY IN | -32 | + | Z | UP 3 | |||||
ANNAWAN IL | -35 | + | Z | UNC | |||||
COUNCIL BLUFFS IA | -34 | + | Z | UNC | |||||
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 in Chicago
Editing by Matthew Lewis
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