US Cash Grains-Corn, soy basis bids hold steady as futures slump

Reuters03-05

CHICAGO, March 4 (Reuters) - Basis bids remained largely unchanged for corn and soybeans across the U.S. Midwest on Wednesday as futures prices sagged, dealers said.

Farmer sales of corn slowed a bit as prices pulled back, a broker said.
Chicago Board of Trade May corn CK26 futures were down 3-1/2 cents at $4.43 per bushel around midday. May soybeans SK26 eased 3/4 cent to $11.69-3/4 per bushel.
U.S. output of corn-based ethanol declined in the latest week, the Energy Information Administration said.

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

ELEVATORS
	CORN				SOYBEANS
CINCINNATI OH	+4	+	H	UNC	+5	+	H	UNC
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	+	K	UNC	-70	+	K	UNC

PROCESSORS
	CORN				SOYBEANS
DECATUR IL	-3	+	K	UNC	+0	+	K	UNC
DECATUR IN					+0	+	K	UNC
MORRISTOWN IN					-5	+	K	UNC
LAFAYETTE IN					-12	+	K	UNC
CEDAR RAPIDS IA	-19	+	K	UNC	-45	+	K	UNC
COUNCIL BLUFFS IA					-50	+	K	UNC
LINCOLN NE					-55	+	K	UNC
BLAIR NE	-19	+	K	UNC

RIVER TERMINALS
	CORN				SOYBEANS
TOLEDO OH	+10	+	K	UNC	-5	+	K	UNC
SENECA IL	-13	+	K	UP 2	-21	+	K	UNC
SAVANNA IL	-31	+	K	UNC	-56	+	K	UNC
DAVENPORT IA	-24	+	K	UP 4	-25	+	K	UP 2

ETHANOL PLANTS
LINDEN IN	-8	+	K	NC
UNION CITY IN	+18	+	K	UP 4
ANNAWAN IL	-8	+	K	UNC
COUNCIL BLUFFS IA	-24	+	K	DN 2

SRW WHEAT
TOLEDO OH	-5	+	H	UNC
CINCINNATI OH	UNQ			UNC
DECATUR IN	-20	+	K	UNC
BURNS HARBOR IN	UNQ			UNC

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

--------------------------------------------------------

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 Tom Polansek; Editing by Aurora Ellis)

((Thomas.Polansek@thomsonreuters.com))

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

US Cash Grains-Corn, soy basis bids hold steady as futures slump

At the request of the copyright holder, you need to log in to view this content

Comments