Spot basis bids for corn and soybeans were flat to stronger in the U.S. Midwest on Tuesday as weakening futures and weather concerns discouraged farmers from selling.
A favourable start to the U.S. Midwest growing season, strength in the dollar and falling oil prices following de-escalation in the Middle East war have weighed on corn and soybean prices.
Traders are monitoring hot weather across much of the U.S. Midwest this week, but showers and easing heat forecast in the coming days are expected to limit potential crop stress.
Chicago Board of Trade most-active corn futures CBOT:ZC1! were last down 1-1/4 cents to $4.00-3/4 a bushel and CBOT most-active soybean futures CBOT:ZS1! were last 12 cents lower at $11.27 per bushel.
Basis values are quoted against CBOT futures in cts/bu:
ELEVATORS | CORN SOYBEANS | CINCINNATI OH +25 + N UP 3 +15 + N UNC | BURNS HARBOR IN UNQ UNC UNQ UNC | DECATUR IN UNQ UNC UNQ UNC | DES MOINES IA UNQ UNC UNQ UNC | LINCOLN NE -25 + N UNC -30 N UNC | PROCESSORS | CORN SOYBEANS | DECATUR IL +12 + U UNC +30 + Q UNC | DECATUR IN +25 + Q UNC | MORRISTOWN IN +20 + N UNC | LAFAYETTE IN +25 + N UNC | CEDAR RAPIDS IA -2 + N UNC +0 + N UNC | COUNCIL BLUFFS IA -5 + N UNC | LINCOLN NE +10 + Q UNC | BLAIR NE -8 + U NC | RIVER TERMINALS | CORN SOYBEANS | TOLEDO OH +15 + U NC +10 + Q NC | SENECA IL -2 + N UP 1 -10 + N UNC | SAVANNA IL -34 + U UP 3 -51 + Q NC | DAVENPORT IA -14 + N UP 2 -25 + N UNC | ETHANOL PLANTS | LINDEN IN +25 + N UNC | UNION CITY IN +32 + U NC | ANNAWAN IL -14 + U UNC | COUNCIL BLUFFS IA -12 + U NC | SRW WHEAT | TOLEDO OH -15 + U NC | CINCINNATI OH UNQ UNC | DECATUR IN -30 + N UNC | BURNS HARBOR IN UNQ 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-PM)
For U.S. forward basis spreadsheets, please click:
(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 PM
- U.S. CIF/FOB Gulf Grain