CHICAGO, March 9 (Reuters) - Basis bids for corn and soybeans turned lower at elevators, processors and river terminals in the U.S. Midwest on Monday amid a spate of farmer selling as producers took advantage of a recent rally in corn and soy prices to offload grain, dealers said.
Though futures traded higher earlier in the session, U.S. grain and soybean futures later fell in a profit-taking and technical-selling retreat from multiyear highs posted overnight, after soaring crude oil prices amid ongoing hostilities in the Middle East sparked speculative and fund buying.
Chicago Board of Trade soybeans Sv1 and wheat Wv1 touched their highest points in 21 months while corn Cv1 hit a 10-month peak as crude oil climbed to the highest level since 2022.
CBOT most-active soybeans were last down 3 cents at $11.97-3/4 per bushel. Most-active corn was last down 4-1/4 cents at $4.56-1/4 per bushel.
Basis values are quoted against CBOT futures in cts/ bu:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | -6 | + | DN 1 | -12 | + | K | DN 4 | ||
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 | DN 3 | -4 | + | K | DN 2 | |
DECATUR IN | +0 | + | K | UNC | |||||
MORRISTOWN IN | -5 | + | K | UNC | |||||
LAFAYETTE IN | -10 | + | K | UP 2 | |||||
CEDAR RAPIDS IA | -21 | + | K | DN 2 | -50 | + | K | DN 5 | |
COUNCIL BLUFFS IA | -55 | + | K | UNC | |||||
LINCOLN NE | -55 | + | K | UNC | |||||
BLAIR NE | -21 | + | K | DN 2 | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | +2 | + | K | DN 8 | -5 | + | K | UNC | |
SENECA IL | -18 | + | K | DN 6 | -30 | + | K | DN 10 | |
SAVANNA IL | -31 | + | K | UNC | -56 | + | K | UNC | |
DAVENPORT IA | -26 | + | K | DN 2 | -45 | + | K | DN 15 | |
ETHANOL PLANTS | |||||||||
LINDEN IN | -8 | + | K | UNC | |||||
UNION CITY IN | +18 | + | K | UNC | |||||
ANNAWAN IL | -8 | + | K | UNC | |||||
COUNCIL BLUFFS IA | -26 | + | K | UNC | |||||
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 in ChicagoEditing by Matthew Lewis)
((Heather.Schlitz@thomsonreuters.com;))
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