Spot basis bids for corn and soybeans in the U.S. Midwest were mostly flat on Friday as grain dealers and farmers awaited U.S. acreage and stocks data due next week.
The U.S. Department of Agriculture is due to issue estimates of crop plantings and quarterly data on grain stocks in reports on Tuesday.
Chicago Board of Trade corn and soybean futures ended lower as traders adjusted positions before the reports are released.
"No one is looking to be a hero with big positions on going into the numbers," said Charlie Sernatinger, executive vice president of Marex.
Traders and farmers also monitored weather forecasts heading into July, the critical month for development of the corn crop.
Hotter weather is expected across the Corn Belt next week, leading to some heat stress, forecaster Vaisala said. Temperatures will moderate by next weekend but remain above normal, the firm said.
Basis values are quoted against CBOT futures in cents/bu:
Current Previous | Bid Bid | Chicago, Illinois | Corn processors +12 + N +12 + N UNC | Corn elevators +20 + N +20 + N UNC | Soybean elevators -10 + N -10 + N UNC | Wheat elevators -15 + N -15 + N UNC | Wheat processors -10 + N -10 + N UNC | Decatur IL corn +17 + N +17 + N UNC | Decatur IL soybeans +35 + N +35 + N UNC | 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 +10 + U +15 + N NC | Soy +10 + Q +5 + N NC | SRW wheat -15 + N -15 + N UNC | Davenport IA (river) | Corn -16 + N -16 + N UNC | Soy -25 + N -25 + N UNC | Evansville IN (rail) | 15-car CSX corn +29 + N +29 + N UNC | Cincinnati OH (rail) | 3-car corn UNQ UNQ UNC | Hereford TX corn +120 + N +120 + N UNC | Columbus OH (rail) | 3-car corn +36 + N +34 + N UP 2 | Morris IL (river) | Corn -3 + N -3 + N UNC | Soybeans -10 + N -10 + N UNC | Fort Worth TX corn UNQ UNQ UNC | Blair NE corn +0 + N +0 + N UNC | Council Bluffs, IA (elevator) | Corn +0 + N +0 + N UNC | Soy -31 + N -31 + N UNC | Des Moines IA soy -5 + Q -5 + Q 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
---------------------------------------------------------
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