CHICAGO, April 2 (Reuters) - Spot basis bids for soybeans and corn were steady to mixed in the U.S. Midwest on Thursday as farmers increasingly turned their attention to field work, dealers said.
The soybean basis fell by 5 cents per bushel at a processor in Lincoln, Nebraska, after rising by 10 cents at that location on Wednesday.
An ethanol plant in Council Bluffs, Iowa, increased its corn basis by 2 cents after a 3-cent increase on Wednesday. Another ethanol plant in Annawan, Illinois, lowered its corn basis by 2 cents.
Farmers have been focusing on field work ahead of plantings in the Midwest, instead of selling crops, and are hoping for higher prices, dealers said.
The U.S. Department of Agriculture is scheduled to resume regular weekly U.S. crop progress reports on Monday. Farmers had planted 2% of the nation's corn crop as of April 6, 2025.
Drier weather next week would aid early field work in the Midwest before rain is expected in the middle of April, Commodity Weather Group said in a forecast.
Basis values are quoted against CBOT futures in cts/ bu:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | +10 | + | DN 1 | -6 | + | K | UP 1 | ||
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | UNQ | UNC | |||||
DES MOINES IA | UNQ | UNC | UNQ | UNC | |||||
LINCOLN NE | -36 | + | K | UNC | -55 | + | X | UNC | |
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | -5 | + | K | UNC | +12 | + | K | UNC | |
DECATUR IN | +10 | + | K | UNC | |||||
MORRISTOWN IN | +10 | + | K | UNC | |||||
LAFAYETTE IN | +5 | + | K | UNC | |||||
CEDAR RAPIDS IA | -14 | + | K | UNC | -25 | + | K | UNC | |
COUNCIL BLUFFS IA | -45 | + | K | UNC | |||||
LINCOLN NE | -50 | + | K | DN 5 | |||||
BLAIR NE | -18 | + | K | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | +5 | + | K | UNC | -10 | + | K | UNC | |
SENECA IL | -7 | + | K | UNC | -27 | + | K | UNC | |
SAVANNA IL | -29 | + | K | UNC | -61 | + | K | UNC | |
DAVENPORT IA | -20 | + | K | UNC | -40 | + | K | UNC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | +0 | + | K | UNC | |||||
UNION CITY IN | +15 | + | K | UNC | |||||
ANNAWAN IL | -6 | + | K | DN 2 | |||||
COUNCIL BLUFFS IA | -20 | + | K | UP 2 | |||||
SRW WHEAT | |||||||||
TOLEDO OH | -5 | + | K | UNC | |||||
CINCINNATI OH | UNQ | UNC | |||||||
DECATUR IN | -20 | + | K | 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 Tom Polansek; Editing by Tasim Zahid)
((thomas.polansek@thomsonreuters.com))
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