U.S. Cash Grains-Corn basis steady-firm at interior, river elevators
03/03/2023 16:48
CHICAGO, March 3 (Reuters) - Spot basis bids for corn
were mostly steady to firm at U.S. Midwest grain elevators on
Friday, steady to weak at ethanol plants and unchanged at other
processors, grain dealers said.
* Soybean basis bids were mostly steady at interior and
river elevators and mostly flat to lower at processing plants.
* Farmer selling of corn and soybeans remained light despite
a jump in Chicago Board of Trade futures prices on Friday. Corn
futures Cv1 remain on pace for a weekly decline, while
soybeans Sv1 are up only slightly on the week.
* The spot soy basis eased by 5 cents a bushel at a
processing plant in Morristown, Indiana, after gaining 10 cents
earlier in the week when futures prices dropped.
* The spot corn basis weakened by 4 cents a bushel at an
ethanol plant in Union City, Indiana, but held steady at other
corn biofuel facilities around the Midwest.
* Farmers and grain traders are looking ahead to next week's
monthly U.S. Department of Agriculture supply and demand report,
which is expected to show tighter global corn and soy stocks and
lower production outlooks for Brazil and Argentina.
Basis values are quoted against CBOT futures in cts/bu:
ELEVATORS
CORN SOYBEANS
CINCINNATI OH +15 + K UP 3 +30 + K UP 2
BURNS HARBOR IN UNQ UNC UNQ UNC
DECATUR IN UNQ UNC
DES MOINES IA UNQ UNC
LINCOLN NE +25 + K UNC
PROCESSORS
CORN SOYBEANS
DECATUR IL +28 + K UNC +30 + K UNC
DECATUR IN -2 + K UNC
MORRISTOWN IN +5 + K DN 5
LAFAYETTE IN +5 + K UNC
CEDAR RAPIDS IA +3 + K UNC -50 + K UNC
COUNCIL BLUFFS IA +15 + K UNC
LINCOLN NE +25 + K UNC
BLAIR NE +50 + K UNC
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -30 + K UNC -15 + K UNC
SENECA IL +7 + K UP 1 +15 + K UNC
SAVANNA IL -9 + K UNC -29 + K UNC
DAVENPORT IA -2 + K UP 1 +3 + K UP 3
ETHANOL PLANTS
LINDEN IN -5 + K UNC
UNION CITY IN -6 + K DN 4
ANNAWAN IL +5 + K UNC
COUNCIL BLUFFS IA +34 + K UNC
SRW WHEAT
TOLEDO OH -30 + K UNC
CINCINNATI OH UNQ UNC
DECATUR IN -35 + K UNC
BURNS HARBOR IN UNQ UNC
NOTE: 0 = option price, UN = Unchanged, UN = Unquoted
NC = Not comparable, DPI = Delayed Price, N/A = Not available,
F = January, H = March, K = May, N = July
Q = 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 in Chicago; Editing by Kirsten
Donovan)
((karl.plume@thomsonreuters.com; +1 313 484 5285; Reuters
Messaging: karl.plume.thomsonreuters.com@reuters.net))