US Cash Grains-Soy basis down as futures fall, dollar rises

Reuters
17 Dec 2024
US Cash Grains-Soy basis down as futures fall, dollar rises

CHICAGO, Dec 16 (Reuters) - Spot basis bids for soybeans fell in the U.S. Midwest on Monday as futures fell and the U.S. dollar .DXY gained strength.

* The soy basis fell at an elevator in Cincinnati, Ohio, a processor in Cedar Rapids, Iowa and a river terminal in Davenport, Iowa.

* The corn basis rose at the processor in Cedar Rapids and the river terminal in Davenport, Iowa, but fell at a river terminal in Seneca, Illinois.

* The U.S. dollar hovered close to a three-week high versus other major currencies on Monday, making U.S. exports more expensive and less competitive for holders of other currencies.

* The U.S. soybean crush declined in November from an all-time high a month earlier and fell short of most trade estimates, according to National Oilseed Processors Association (NOPA) data released on Monday.

* Most-active soybean futures Sv1 traded down 1 cent at $9.87-1/4 as of 10:44 a.m. CST (1644 GMT).

* Most-active corn futures Cv1 were up 2-3/4 cents to $4.44-3/4 per bushel.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+0

+

H

UNC

+15

+

F

DN 1

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

UNC

DES MOINES IA

UNQ

UNC

LINCOLN NE

-23

+

H

UNC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

+2

+

H

UNC

+5

+

F

UNC

DECATUR IN

+10

+

F

UNC

MORRISTOWN IN

+0

+

F

UNC

LAFAYETTE IN

+5

+

F

UNC

CEDAR RAPIDS IA

-7

+

H

UP 3

-10

+

F

DN 5

COUNCIL BLUFFS IA

-15

+

F

UNC

LINCOLN NE

-15

+

F

UNC

BLAIR NE

-5

+

H

UNC

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

-24

+

H

UNC

-25

+

F

UNC

SENECA IL

-10

+

H

DN 1

+5

+

F

UNC

SAVANNA IL

-31

+

H

UNC

-36

+

F

UNC

DAVENPORT IA

-14

+

H

UP 1

-13

+

F

DN 5

ETHANOL PLANTS

LINDEN IN

-5

+

H

UNC

UNION CITY IN

+3

+

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 Renee Hickman; Editing by Richard Chang)

((renee.hickman@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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