Spot basis bids for corn and soybeans were steady to higher in the U.S. Midwest on Wednesday as elevators, processors and river terminals rolled basis bids forward ahead of the expiration of the Chicago Board of Trade July contracts.
Hot weather hit the U.S. Midwest this week, though widespread showers and easing heat into next week were expected to limit stress on corn and soybean crops.
Chicago corn, soybean and wheat futures rose on Wednesday, extending a rebound triggered by the U.S. Department of Agriculture's Tuesday acreage and stocks estimates.
There has been light farmer selling after corn and soy futures received a boost from the USDA's report.
Many locations rolled their basis bids to the Chicago Board of Trade August soybean contract (SQ26) or September corn contract (CU26).
Chicago Board of Trade most-active corn futures CBOT:ZC1! were last up 4-1/4 cents higher to $4.21 a bushel and CBOT most-active soybean futures CBOT:ZS1! were last 6 cents higher to $11.30-1/4 per bushel.
Basis values are quoted against CBOT futures in cts/bu:
ELEVATORS | CORN SOYBEANS | CINCINNATI OH +30 + N UP 13 +24 + N UP 9 | BURNS HARBOR IN UNQ UNC UNQ UNC | DECATUR IN UNQ UNC UNQ UNC | DES MOINES IA UNQ UNC UNQ UNC | LINCOLN NE -25 + U NC -30 Q NC | PROCESSORS | CORN SOYBEANS | DECATUR IL +16 + U NC +30 + Q NC | DECATUR IN +25 + Q UNC | MORRISTOWN IN +20 + Q UNC | LAFAYETTE IN +20 + Q NC | CEDAR RAPIDS IA -7 + U NC +20 + Q NC | COUNCIL BLUFFS IA -5 + Q 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 +0 + U NC -10 + Q NC | SAVANNA IL -34 + U NC -46 + Q NC | DAVENPORT IA -12 + U NC -25 + Q NC | ETHANOL PLANTS | LINDEN IN +20 + U NC | UNION CITY IN +35 + U NC | ANNAWAN IL -14 + U UP 6 | COUNCIL BLUFFS IA -4 + U NC | SRW WHEAT | TOLEDO OH -15 + N UNC | CINCINNATI OH UNQ UNC | DECATUR IN -25 + 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