Soybean crusher basis steady to firm, corn bids flat to lower
Spot basis bids for soybeans were steady to higher at U.S. Midwest processing plants on Thursday and mostly steady at interior elevators and barge-loading river terminals, merchants said.
A soybean crusher in Des Moines, Iowa, raised its spot basis bid by 10 cents a bushel on Thursday while other processing plants left bids unchanged. A large crusher in central Illinois and two processors in Iowa lifted their spot soy basis by 5 cents earlier in the week.
Spot corn basis bids were mostly steady to lower at elevators and processing plants on Thursday.
Farmer selling of both commodities remained slow on Thursday as futures prices hovered remain near recent lows. Soybean futures on the Chicago Board of Trade touched three-month lows at the start of the week, while corn contracts posted lifetime lows amid strong production prospects in the United States.
CBOT September corn futures (CU25) settled 3-1/4 cents lower at $4.02 a bushel, while new-crop December corn (CZ25) was down 3 cents at $4.21 a bushel.
CBOT August soybean futures (SQ25) rose 8 cents to $10.21-1/2 per bushel and new-crop November soybeans (SX25) gained 6 cents to settle at $10.26-1/2 a bushel.
Basis values are quoted against CBOT futures in cents/bu:
Current | Previous | ||||||
Bid | Bid | ||||||
Chicago, Illinois | |||||||
Corn processors | +18 | + | U | +22 | + | U | DN 4 |
Corn elevators | +37 | + | U | +37 | + | U | UNC |
Soybean elevators | -10 | + | Q | -10 | + | Q | UNC |
Wheat elevators | -10 | + | U | -10 | + | U | UNC |
Wheat processors | -13 | + | U | -13 | + | U | UNC |
Decatur IL corn | +18 | + | U | +18 | + | U | UNC |
Decatur IL soybeans | +20 | + | X | +20 | + | X | UNC |
Burns Harbor IN corn | UNQ | UNQ | UNC | ||||
Burns Harbor IN soy | UNQ | UNQ | UNC | ||||
Lafayette IN soy | +20 | + | X | +20 | + | X | UNC |
Toledo OH (port) | |||||||
Corn | +10 | + | U | +10 | + | U | UNC |
Soy | -15 | + | X | -15 | + | X | UNC |
SRW wheat | -29 | + | U | -29 | + | U | UNC |
Davenport IA (river) | |||||||
Corn | -5 | + | U | -5 | + | U | UNC |
Soy | -10 | + | Q | -10 | + | Q | UNC |
Evansville IN (rail) | |||||||
15-car CSX corn | UNQ | UNQ | UNC | ||||
Cincinnati OH (rail) | |||||||
3-car corn | UNQ | UNQ | UNC | ||||
Hereford TX corn | +110 | + | U | +110 | + | U | UNC |
Columbus OH (rail) | |||||||
3-car corn | +48 | + | U | +48 | + | U | UNC |
Morris IL (river) | |||||||
Corn | +0 | + | U | +5 | + | U | DN 5 |
Soybeans | +0 | + | Q | +0 | + | Q | UNC |
Fort Worth TX corn | +110 | + | U | +110 | + | U | UNC |
Blair NE corn | +10 | + | U | +10 | + | U | UNC |
Council Bluffs, IA (elevator) | |||||||
Corn | +12 | + | U | +13 | + | U | DN 1 |
Soy | -25 | + | X | -25 | + | X | UNC |
Des Moines IA soy | -10 | + | X | -20 | + | X | UP 10 |
Sioux City IA soy | -10 | + | X | -10 | + | X | 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 = July, Q = August,
U = September, X = November, Z = December
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LINKS: (0#USCSHGRN-AM)
For U.S. forward basis spreadsheets, please click on:
(CORN/BASIS), (SOYA/BASIS), (WHEAT/BASIS), (MILO/BASIS)
- CBOT corn report
- CBOT soybean report
- CBOT wheat report
- U.S. grain barge freight values
- U.S. Midwest cash grain AM
- U.S. CIF/FOB Gulf Grain
