US Cash Grains-Corn basis bids rise at Midwest processing plants

Reuters
12 Mar
US Cash Grains-Corn basis bids rise at <a href="https://laohu8.com/S/MDWT">Midwest</a> processing plants

CHICAGO, March 11 (Reuters) - Spot basis bids for corn rose at processors and ethanol plants in the U.S. Midwest on Tuesday as crop buyers sought to entice farmers to make more sales, brokers said.

* Soybean basis bids were flat to higher.

* The U.S. Department of Agriculture kept its estimates unchanged for 2024-25 U.S. corn ending stocks in a monthly report amid uncertainty over the impact of U.S. tariff disputes with major buyers Mexico, Canada and China. Analysts had expected stocks to decline.

* USDA made no changes to its forecasts for how much U.S. corn will be exported or used to make ethanol, compared to February.

* Chicago Board of Trade May corn futures CK25 were up 1-1/2 cents at $4.73-1/2 per bushel by 12:30 p.m. CDT (1730 GMT) as the market recovered from losses last week. CBOT May soybeans SK25 were up 1 cent at $10.15 a bushel.

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

ELEVATORS

CORN

SOYBEANS

CINCINNATI OH

-7

+

K

UP 1

-3

+

K

UNC

BURNS HARBOR IN

UNQ

UNC

UNQ

UNC

DECATUR IN

UNQ

UNC

DES MOINES IA

UNQ

UNC

LINCOLN NE

-40

+

K

UNC

PROCESSORS

CORN

SOYBEANS

DECATUR IL

-8

+

K

UNC

-7

+

K

UP 3

DECATUR IN

+5

+

K

UNC

MORRISTOWN IN

+0

+

K

UNC

LAFAYETTE IN

-7

+

K

UNC

CEDAR RAPIDS IA

-15

+

K

UP 5

-25

+

K

UNC

COUNCIL BLUFFS IA

-30

+

K

UNC

LINCOLN NE

-35

+

K

UNC

BLAIR NE

-21

+

K

UP 2

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

-10

+

K

UNC

-25

+

K

UNC

SENECA IL

-20

+

K

UNC

-15

+

K

UNC

SAVANNA IL

-36

+

K

UNC

-48

+

K

UNC

DAVENPORT IA

-25

+

K

UNC

-25

+

K

UNC

ETHANOL PLANTS

LINDEN IN

-16

+

K

UNC

UNION CITY IN

+3

+

K

UP 1

ANNAWAN IL

-12

+

K

DN 2

COUNCIL BLUFFS IA

-22

+

K

UNC

SRW WHEAT

TOLEDO OH

-25

+

N

UNC

CINCINNATI OH

UNQ

N

UNC

DECATUR IN

-45

+

K

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 Andrea Ricci)

((Thomas.Polansek@thomsonreuters.com))

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