US Cash Grains-Soy basis slips at some processors, corn basis mixed

Reuters
07 Dec 2024
US Cash Grains-Soy basis slips at some processors, corn basis mixed

CHICAGO, Dec 6 (Reuters) - Spot basis bids for U.S. soybeans eased at some Midwestern processing facilities on Friday, while the corn basis was steady to mixed at elevators and processors.

* An uptick in corn prices encouraged some farmers to sell grain from their storage bins, while sales have been largely slow before the end of the year, a broker said.

* Chicago Board of Trade corn futures Cv1 reached their highest level since June 28 in the most-active contract due to strong U.S. export demand.

* Demand for crops to make biofuels is uncertain amid questions over the future of a U.S. clean fuel tax credit, traders said.

* Biden administration officials will not finalize highly anticipated guidelines on new clean fuel production tax credits aimed at the airline and biofuel industries before they leave in January, sources have told Reuters.

Basis values are quoted against CBOT futures in cts/bu:

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+4

+

H

DN 1

+18

+

F

UNC

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

UNC

DES MOINES IA

UNQ

UNC

LINCOLN NE

-20

+

H

UNC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

+8

+

H

UP 2

+5

+

F

UNC

DECATUR IN

+10

+

F

UNC

MORRISTOWN IN

+5

+

F

DN 5

LAFAYETTE IN

+0

+

F

UNC

CEDAR RAPIDS IA

-2

+

H

UNC

-5

+

F

UNC

COUNCIL BLUFFS IA

-10

+

F

UNC

LINCOLN NE

-13

+

F

DN 3

BLAIR NE

+0

+

H

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

-24

+

H

UNC

-25

+

F

UNC

SENECA IL

-5

+

H

DN 1

+5

+

F

UNC

SAVANNA IL

-31

+

H

UNC

-36

+

F

UNC

DAVENPORT IA

-15

+

H

UNC

-8

+

F

UNC

ETHANOL PLANTS

LINDEN IN

-2

+

H

UNC

UNION CITY IN

+5

+

H

UNC

ANNAWAN IL

-10

+

H

UNC

COUNCIL BLUFFS IA

-10

+

H

UNC

SRW WHEAT

TOLEDO OH

-30

+

H

UNC

CINCINNATI OH

UNQ

UNC

DECATUR IN

-45

+

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 = JulyQ = August, U = September, X = November, Z = December

--------------------------------------------------------

LINKS: 0#USCSHGRN-PM

For U.S. forward basis spreadsheets, please click:

CORN/BASIS, SOYA/BASIS, WHEAT/BASIS, MILO/BASIS

- CBOT corn report COR/

- CBOT soybean report SOY/C

- CBOT wheat report WHE/C

- U.S. grain barge freight values BG/US

- U.S. Midwest cash grain PM GRA/PM

- U.S. CIF/FOB Gulf Grain GRA/F

(Reporting by Tom Polansek in Chicago; Editing by Shinjini Ganguli)

((Thomas.Polansek@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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