CHICAGO, March 12 (Reuters) - Basis bids for corn and soybeans were flat to mixed in the U.S. Midwest on Thursday as a wave of farmer selling that began early in the week petered out, though futures continued to rise.
Farmers had earlier taken advantage of a massive rally in agricultural commodities to forward contract new-crop corn, soy and wheat and sell off grains in storage.
The U.S. Department of Agriculture reported net weekly U.S. soybean export sales for 2025/26 for the week ended on March 5 at 466,200 metric tons, in line with analyst estimates.
The U.S. Department of Agriculture reported net weekly U.S. corn export sales for 2025/26 for the week ended on March 5 at 1,503,800 metric tons, on the low end of a range of analyst estimates.
Chicago soybean futures rose for a third consecutive session on Thursday, as crude oil climbed further following Iranian attacks that deepened fears of a protracted Middle East conflict.
Wheat and corn also rose, with the strength in crude again offsetting a backdrop of ample global grain supplies.
Chicago Board of Trade most-active soybeans were last up 14-3/4 cents to $12.29 per bushel. Most-active corn was last up 4-1/2 cents to $4.65 per bushel.
Basis values are quoted against CBOT futures in cts/ bu:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | -8 | + | UP 1 | -14 | + | K | 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 | -40 | + | K | UNC | -70 | + | K | UNC | |
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | -8 | + | K | UNC | -8 | + | K | UNC | |
DECATUR IN | +0 | + | K | UNC | |||||
MORRISTOWN IN | +0 | + | K | UNC | |||||
LAFAYETTE IN | -10 | + | K | UNC | |||||
CEDAR RAPIDS IA | -21 | + | K | UNC | -50 | + | K | UNC | |
COUNCIL BLUFFS IA | -55 | + | K | UNC | |||||
LINCOLN NE | -55 | + | K | UNC | |||||
BLAIR NE | -21 | + | K | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | +2 | + | K | UNC | -10 | + | K | UNC | |
SENECA IL | -17 | + | K | UNC | -30 | + | K | UNC | |
SAVANNA IL | -34 | + | K | UNC | -56 | + | K | UNC | |
DAVENPORT IA | -30 | + | K | UNC | -40 | + | K | UP 5 | |
ETHANOL PLANTS | |||||||||
LINDEN IN | -10 | + | K | UNC | |||||
UNION CITY IN | +11 | + | K | DN 2 | |||||
ANNAWAN IL | -10 | + | K | UNC | |||||
COUNCIL BLUFFS IA | -28 | + | 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
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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; Editing by Krishna Chandra Eluri)
((Heather.Schlitz@thomsonreuters.com;))
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