May 28 (Reuters) – Spot soybean basis bids were mixed on
Tuesday in the U.S. Midwest, falling in some areas due to
stepped-up farmer selling last week and firming in other areas
where bids have fallen sharply in recent days, dealers said.
* Grain merchadisers noted moderate sales of soybeans and
corn in response to higher Chicago Board of Trade futures.
* The soybean basis fell by 20 cents late Friday at Decatur,
Illinois, a key soy processing site. The basis fell 10 cents at
Burns Harbor, Indiana, and 3 cents at some river locations.
* But the soy basis rose 10 to 15 cents at two Indiana
crushing locations, including Decatur, Indiana, where dealers
dropped the basis by 50 cents on Friday.
* Midwest cash corn basis bids were steady to lower, falling
by 3 cents at Decatur, Illinois, by 8 cents at Lincoln,
Nebraska, and by 10 cents at an ethanol plant at Annawan,
Illinois.
* Large inverses in the CBOT soybean spreads coupled with
volatility in the spot month prompted some elevators and
crushers to roll their bids to the August or November contracts.
* Rain over the weekend and this week will drag out
late-season plantings of corn and soybeans in the United States
that are already at a historically slow pace, an agricultural
meteorologist said.
* Ahead of the USDA’s weekly crop progress report due later
on Tuesday, analysts surveyed by Reuters estimated U.S. corn
planting progress at 86 percent and soybean progress at 42
percent.
* CBOT corn and soybean futures were higher on Tuesday on
concerns about U.S. planting delays and excessive rains in some
areas, along with fund buying, traders said. Wheat was higher,
following corn and soy.
Basis values are quoted against CBOT futures in cts/bu:
CORN SOYBEANS
CINCINNATI OH +65 + N UNC +40 + N UNC
BURNS HARBOR IN +32 + N UNC +190 + X DN 10
DECATUR IN +40 + N UNC
DES MOINES IA +210 + X UNC
LINCOLN NE +55 + N DN 8
PROCESSORS
CORN SOYBEANS
DECATUR IL +57 + N DN 3 +130 + Q DN 20
DECATUR IN +25 + N UP 15
MORRISTOWN IN +60 + N UP 10
LAFAYETTE IN +250 + X NC
CEDAR RAPIDS +60 + N UNC +245 + X UNC
COUNCIL BLUFFS +10 + N UNC
LINCOLN NE +100 + Q UNC
BLAIR NE +75 + N UNC
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH +42 + N UNC +15 + N UNC
SENECA IL +50 + N DN 3 +27 + N DN 3
SAVANNA IL +26 + N UNC +24 + N UNC
DAVENPORT IA +54 + N UNC +24 + N DN 3
ETHANOL PLANTS
LINDEN IN +70 + N UNC
UNION CITY IN +62 + N UNC
ANNAWAN IL +40 + N DN 10
COUNCIL BLUFFS +65 + N UNC
SRW WHEAT
TOLEDO -10 + N UNC
CINCINNATI +0 + N UNC
DECATUR IN -15 + N UNC
BURNS HARBOR -15 + N UNC
Note: 0 = Option price, UNC = Unchanged, UNQ = Unquoted,
NC = not comparable, DP = Delayed Price, N = July, Q = August,
U = September, X = November, Z = December
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LINKS:
For U.S. forward basis spreadsheets, please click on:
– CBOT corn report
– CBOT soybean report
– CBOT wheat report
– U.S. grain barge freight values
– U.S. Midwest cash grain PM
– U.S. CIF Gulf Grain
– U.S. FOB Gulf Grain
(Reporting by Julie Ingwersen)
