U.S. Cash Grains-Soy basis steady-weak at elevators, processor bids flat

Basis

08/03/2023 16:39

CHICAGO, March 8 (Reuters) - Spot basis bids for
soybeans delivered to U.S. Midwest elevators and river terminals
were steady to lower on Wednesday morning while basis values at
soy crush plants held mostly unchanged, grain merchants said.
    * Spot corn basis bids were steady to higher at Midwest
ethanol plants and river terminals and mixed at other processors
and interior elevators.
    * Country movement of both commodities was slow early on
Wednesday as growers awaited the U.S. Department of
Agriculture's (USDA) monthly supply and demand report due at
11:00 a.m. CST (1700 GMT).
    * Many farmers have booked sales at higher prices and were
waiting to see if the prices improved before committing to new
deals.
            
 Basis values are quoted against CBOT futures in cts/bu:
 ELEVATORS                                                
                    CORN                  SOYBEANS        
 CINCINNATI OH       +18  +  K  UP 1       +26  +  K  DN 1
 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        +35  +  K  UNC
 DECATUR IN                                 -5  +  K  UNC
 MORRISTOWN IN                              +5  +  K  UNC
 LAFAYETTE IN                              +10  +  K  UNC
 CEDAR RAPIDS IA      -8  +  K  DN 3       -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           +11  +  K  UP 1       +10  +  K  DN 5
 SAVANNA IL           -9  +  K  UNC        -29  +  K  UNC
 DAVENPORT IA         +3  +  K  UP 5        +3  +  K  UNC
                                                          
 ETHANOL PLANTS                                           
 LINDEN IN           +10  +  K  UP 10                     
 UNION CITY IN        -6  +  K  UNC                       
 ANNAWAN IL           +5  +  K  UNC                       
 COUNCIL BLUFFS IA   +35  +  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
    --------------------------------------------------------
    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; Editing by Mark Porter)
 ((karl.plume@thomsonreuters.com; +1 313 484 5285; Reuters
Messaging: karl.plume.thomsonreuters.com@reuters.net))