US Cash Grains-Corn, soy basis mixed as frigid weather slows grain movement

Reuters01-30

CHICAGO, Jan 29 (Reuters) - Spot basis bids for corn and soybeans were mixed at elevators and processors around the U.S. Midwest on Thursday after scattered farmer sales at midweek and as frigid winter weather slowed grain movement in parts of the country.

The corn basis firmed by 3 cents a bushel at a Cincinnati, Ohio, elevator a day after sinking by 8 cents. A corn processor in Blair, Nebraska, cut its spot basis bid by 3 cents. Corn bids firmed by up to 5 cents a bushel at eastern Midwest ethanol plants but held mostly steady in the central and western Midwest.
The spot soybean basis bid dipped by 2 cents a bushel at a Cincinnati, Ohio, elevator, but rose by 5 cents at processors in Decatur, Indiana, and in Lafayette, Indiana.
Weekly corn and soybean export sales for the week ended January 22 were down from very strong levels in the previous week, although sales were in line with trade estimates.
Chicago Board of Trade March corn futures CH26 were up 1/4 cent near midday on Thursday at $4.30-1/4 a bushel. CBOT March soybeans SH26 were down 3 cents at $10.72 a bushel. GRA/

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

ELEVATORS
	CORN				SOYBEANS
CINCINNATI OH	+7	+	H	UP 3	+14	+	H	DN 2
BURNS HARBOR IN	UNQ			UNC	UNQ			UNC
DECATUR IN	UNQ		H	UNC	UNQ		H	UNC
DES MOINES IA	UNQ			UNC	UNQ			UNC
LINCOLN NE	-42	+	H	UNC	-55	+	H	UNC

PROCESSORS
	CORN				SOYBEANS
DECATUR IL	+3	+	H	UNC	+12	+	H	UNC
DECATUR IN					+10	+	H	UP 5
MORRISTOWN IN					+10	+	H	UNC
LAFAYETTE IN					+10	+	H	UP 5
CEDAR RAPIDS IA	-12	+	H	UNC	-30	+	H	UNC
COUNCIL BLUFFS IA					-40	+	H	UNC
LINCOLN NE					-35	+	H	UNC
BLAIR NE	-10	+	H	DN 3

RIVER TERMINALS
	CORN				SOYBEANS
TOLEDO OH	+10	+	H	UNC	-10	+	H	UNC
SENECA IL	-10	+	H	UNC	-8	+	H	UNC
SAVANNA IL	-19	+	H	UP 7	-51	+	H	UNC
DAVENPORT IA	-10	+	H	UNC	-16	+	H	UNC

ETHANOL PLANTS
LINDEN IN	+0	+	H	UP 5
UNION CITY IN	+20	+	H	UP 3
ANNAWAN IL	-10	+	H	UNC
COUNCIL BLUFFS IA	-18	+	H	UNC

SRW WHEAT
TOLEDO OH	-5	+	H	UNC
CINCINNATI OH	UNQ			UNC
DECATUR IN	-25	+	H	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 = JulyQ = 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 Karl Plume; Editing by Kirsten Donovan)

((karl.plume@thomsonreuters.com; +1 313 484 5285))

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US Cash Grains-Corn, soy basis mixed as frigid weather slows grain movement

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