US Cash Grains-Soy basis bids steady to lower as futures fall back

Reuters
31 Jan
US Cash Grains-Soy basis bids steady to lower as futures fall back

CHICAGO, Jan 30 (Reuters) - Spot basis bids for soybeans were flat or fell in the U.S. Midwest on Thursday, as futures retreated from six-month highs hit the previous day. Corn bids were mixed at elevators.

* The soy basis fell 4 cents at an elevator in Ohio and 2 cents at an Illinois river terminal.

* Corn basis bids rose 1 cent at an elevator in Ohio and fell down 4 cents at another in Nebraska.

* U.S. corn and soybean futures fell after rising to multi-month highs the previous day on an improving forecast in Argentina, a major producer of both crops.

* Most-active CBOT corn futures Cv1 were down 5-3/4 cents at $4.91-1/4 a bushel by 10:09 a.m. CST (1609 GMT), while most-active soy futures Sv1 were down 16-1/4 cents to $10.44-1/4 a bushel.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

+6

+

H

UP 1

-8

+

H

DN 4

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

UNC

DES MOINES IA

UNQ

UNC

LINCOLN NE

-35

+

H

UNC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

-6

+

H

UNC

-15

+

H

UNC

DECATUR IN

+0

+

H

UNC

MORRISTOWN IN

+0

+

H

UNC

LAFAYETTE IN

-10

+

H

UNC

CEDAR RAPIDS IA

-16

+

H

UNC

-35

+

H

UNC

COUNCIL BLUFFS IA

-40

+

H

UNC

LINCOLN NE

-40

+

H

UNC

BLAIR NE

-18

+

H

DN 4

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

-13

+

H

UNC

-15

+

H

UNC

SENECA IL

-14

+

H

UNC

-27

+

H

DN 2

SAVANNA IL

-36

+

H

UNC

-41

+

H

UNC

DAVENPORT IA

-28

+

H

UNC

-32

+

H

UNC

ETHANOL PLANTS

LINDEN IN

-10

+

H

UNC

UNION CITY IN

+6

+

H

UNC

ANNAWAN IL

-20

+

H

UNC

COUNCIL BLUFFS IA

-22

+

H

UNC

SRW WHEAT

TOLEDO OH

-25

+

H

UNC

CINCINNATI OH

UNQ

UNC

DECATUR IN

-40

+

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 Barbara Lewis)

((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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