U.S. Cash Grains-Soybean basis weak; corn basis steady

Basis

09/03/2023 16:05

CHICAGO, March 9 (Reuters) - Spot basis bids for soybeans
fell at elevators, river terminals and processors around the
U.S. Midwest on Thursday morning, dealers said.
    * Processors needed fewer soybeans to crush as the weather
warmed up, allowing livestock producers to send animals out to
pastures to graze and cutting into demand for soymeal, a dealer
said.
    * The river basis was under pressure from the ongoing
harvest of soybeans in South America, which provided plenty of
supplies for the export market and lowered demand for U.S.
supplies.
    * Cash bids for corn were unchanged at processors, interior
grain elevators, river terminals and ethanol plants.
            
 Basis values are quoted against CBOT futures in cts/bu:
 ELEVATORS                                                
                    CORN                 SOYBEANS         
 CINCINNATI OH       +18  +  K  UNC      +23  +  K   DN 3
 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                            +0  +  K   DN 5
 LAFAYETTE IN                            +10  +  K   UNC
 CEDAR RAPIDS IA      -8  +  K  UNC      -65  +  K   DN 15
 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           +10  +  K  DN 1      +8  +  K   DN 2
 SAVANNA IL           -9  +  K  UNC      -29  +  K   UNC
 DAVENPORT IA         +3  +  K  UNC       +1  +  K   DN 2
                                                          
 ETHANOL PLANTS                                           
 LINDEN IN           +10  +  K  UNC                       
 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 Mark Weinraub; Editing by Richard Chang)
 ((mark.weinraub@thomsonreuters.com; +1 313 484 5282; Reuters
Messaging: mark.weinraub.thomsonreuters.com@reuters.net))