U.S. Cash Grains-Soybean basis steady to firmer at processors, elevators

Basis

01/03/2023 17:08

CHICAGO, March 1 (Reuters) - Spot basis bids for
soybeans were flat to stronger at U.S. Midwest processors and
elevators on Wednesday, grain dealers said.
    * The spot soy basis jumped by as much as 13 cents a bushel
at a processing plant in Decatur, Illinois, and by 10 cents at a
processor in Morristown, Indiana.
    * Corn basis bids were steady to lower at processors and
mixed at Midwestern ethanol plants, dealers said.
    *  The U.S. Environmental Protection Agency proposed a rule
to allow sales of gasoline with a higher ethanol blend in
certain U.S. Midwest states, which could take effect in summer
2024.
    * Soybean  Sv1  futures rallied while corn  Cv1  futures
were near unchanged at the Chicago Board of Trade.
        
 Basis values are quoted against CBOT futures in cts/bu:
 ELEVATORS                                               
                    CORN                 SOYBEANS        
 CINCINNATI OH        +7  +  H  UP 4     +13  +  H  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  UP 13
 DECATUR IN                               -2  +  K  UNC
 MORRISTOWN IN                           +10  +  K  UP 10
 LAFAYETTE IN                             +0  +  K  UNC
 CEDAR RAPIDS IA      +3  +  K  DN 2     -50  +  K  UNC
 COUNCIL BLUFFS IA                       +15  +  K  UNC
 LINCOLN NE                              +25  +  K  UNC
 BLAIR NE            +50  +  H  DN 5                     
                                                         
 RIVER TERMINALS                                         
                    CORN                 SOYBEANS        
 TOLEDO OH           -30  +  K  UNC      -15  +  K  UNC
 SENECA IL            +5  +  H  UP 5      +8  +  H  UP 3
 SAVANNA IL           -9  +  H  UNC      -29  +  H  UNC
 DAVENPORT IA         -4  +  H  UNC       -7  +  H  DN 2
                                                         
 ETHANOL PLANTS                                          
 LINDEN IN            -5  +  H  UNC                      
 UNION CITY IN        -2  +  H  DN 1                     
 ANNAWAN IL           +5  +  K  UNC                      
 COUNCIL BLUFFS IA   +34  +  K  UP 4                     
                                                         
 SRW WHEAT                                               
 TOLEDO OH           -30  +  K  UNC                      
 CINCINNATI OH       UNQ        UNC                      
 DECATUR IN          -35  +  H  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 Tom Polansek in Chicago; Editing by Andrea Ricci)
 ((Thomas.Polansek@thomsonreuters.com; https://twitter.com/tpolansek))