Spot basis bids for corn and soybeans in the U.S. Midwest turned higher on Monday as dealers attempted to incentivize selling amid low prices.
The U.S. Department of Agriculture is due to issue estimates of crop plantings and quarterly data on grain stocks in reports on Tuesday.
The U.S. Department of Agriculture on Monday rated 67% of the nation's corn crop and 65% of soybeans as good to excellent in its weekly crop progress report, each down one point from a week ago and below analyst expectations for ratings to remain unchanged.
Soybeans, corn and wheat futures dropped on Monday as traders adjusted positions before closely watched U.S. planting and stocks data while monitoring forecasts for a hot spell in the U.S. Midwest.
July corn (CN26) on the Chicago Board of Trade settled down 11-1/2 cents at $4.10-1/4 a bushel, after setting a contract low at $3.98-1/2 a bushel.
CBOT soybeans CBOT:ZS1! ended 17-1/4 cents lower at $11.39 a bushel.
Basis values are quoted against CBOT futures in cents/bu:
Current Previous | Bid Bid | Chicago, Illinois | Corn processors +12 + N +7 + N UP 5 | Corn elevators +20 + N +10 + N UP 10 | Soybean elevators -10 + N -10 + N UNC | Wheat elevators -15 + N -20 + N UP 5 | Wheat processors -10 + N -10 + N UNC | Decatur IL corn +12 + U +15 + N NC | Decatur IL soybeans +30 + N +25 + N UP 5 | Burns Harbor IN corn UNQ UNQ UNC | Burns Harbor IN soy UNQ UNQ UNC | Lafayette IN soy +25 + N +25 + N UNC | Toledo OH (port) | Corn +15 + N +15 + N UNC | Soy +10 + Q +5 + N NC | SRW wheat -15 + N -15 + N UNC | Davenport IA (river) | Corn -14 + N -16 + N UP 2 | Soy -25 + N -25 + N UNC | Evansville IN (rail) | 15-car CSX corn +23 + N +23 + N UNC | Cincinnati OH (rail) | 3-car corn UNQ UNQ UNC | Hereford TX corn +110 + N +110 + N UNC | Columbus OH (rail) | 3-car corn +34 + N +34 + N UNC | Morris IL (river) | Corn -7 + N -7 + N UNC | Soybeans -13 + N -13 + N UNC | Fort Worth TX corn UNQ UNQ UNC | Blair NE corn +3 + N +3 + N UNC | Council Bluffs, IA (elevator) | Corn +0 + N +0 + N UNC | Soy -33 + N -33 + N UNC | Des Moines IA soy +0 + N +0 + N UNC | Sioux City IA soy +5 + N +5 + N 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