Spot basis bids for corn and soybeans were steady to higher in the U.S. Midwest on Monday as futures climbed and many locations rolled their contracts.
Corn basis bids rose at a rail terminal in Evansville, Indiana, and soybean basis bids rose at a processor in Des Moines, Iowa.
Wheat basis bids also rose at a river terminal in Toledo, Ohio, and a processor in the Chicago, Illinois, area.
The U.S. Department of Agriculture reported on Monday that the U.S. corn crop is in 67% good-excellent condition, the same as the previous week and in line with analyst expectations.
The soybean crop was reported in 64% good-excellent condition, slightly below analyst expectations and 1 percentage point lower than the week before.
Benchmark December corn (CZ26) ended up 16-1/4 cents, or 3.7%, at $4.57-3/4 per bushel, after reaching $4.58-3/4, its highest level since June 4.
November soybeans (SX26) ended up 44-1/2 cents, or 3.9%, at $11.92-1/4 a bushel.
Basis values are quoted against CBOT futures in cents/bu:
Current Previous | Bid Bid | Chicago, Illinois | Corn processors +6 + U +12 + N NC | Corn elevators +20 + U +20 + N NC | Soybean elevators -15 + Q -10 + N NC | Wheat elevators -20 + U -15 + N NC | Wheat processors -8 + N -10 + N UP 2 | Decatur IL corn +16 + U +17 + N NC | Decatur IL soybeans +25 + Q +35 + N NC | Burns Harbor IN corn UNQ UNQ UNC | Burns Harbor IN soy UNQ UNQ UNC | Lafayette IN soy +20 + Q +25 + N NC | Toledo OH (port) | Corn +10 + U +10 + U UNC | Soy +10 + Q +10 + Q UNC | SRW wheat -5 + N -15 + N UP 10 | Davenport IA (river) | Corn -12 + U -16 + N NC | Soy -22 + Q -25 + N NC | Evansville IN (rail) | 15-car CSX corn +33 + N +29 + N UP 4 | Cincinnati OH (rail) | 3-car corn UNQ UNQ UNC | Hereford TX corn UNQ N +120 + N NC | Columbus OH (rail) | 3-car corn UNQ N +36 + N NC | Morris IL (river) | Corn +4 + U -3 + N NC | Soybeans -10 + Q -10 + N NC | Fort Worth TX corn UNQ UNQ UNC | Blair NE corn -10 + U +0 + N NC | Council Bluffs, IA (elevator) | Corn -8 + U +0 + N NC | Soy -32 + U -31 + N NC | Des Moines IA soy +10 + Q -5 + Q UP 15 | Sioux City IA soy +20 + Q +5 + N NC |
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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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