Corn

Corn basis softens in western Midwest — TradingView News

Spot basis bids for corn were steady to weaker in the U.S. Midwest on Friday, softening at processing sites in the western Corn Belt and a Midwest river elevator, spot checks showed, even as Chicago Board of Trade corn futures (CH24) fell to contract lows.

* The basis fell by 5 cents a bushel at corn processors in Blair, Nebraska, and Cedar Rapids, Iowa, and by 2 cents at an ethanol plant in Council Bluffs, Iowa.

* The corn basis also fell 2 cents at Seneca, Illinois, where grain is loaded onto barges for shipment on the Illinois River toward Gulf export terminals.

* Soybean basis bids were mostly unchanged. The basis fell by 5 cents at a Lincoln, Nebraska, soy crushing facility and rose by a penny at a Cincinnati, Ohio, elevator.

* The U.S. Department of Agriculture (USDA) reported export sales of U.S. 2023/24 corn in the week ended Dec. 28 at 367,500 metric tons, soybean sales of 201,600 tons and wheat sales of 131,600 tons. The totals for all three commodities fell below trade expectations.

* On the Chicago Board of Trade, soybean futures ZS1! were on track for a third weekly decline after much-needed rains hit dry growing areas in Brazil. Corn futures ZC1! also weakened, while wheat ZW1! edged higher.

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

CORN

SOYBEANS

CINCINNATI OH

-14

+

H

UNC

+12

+

H

UP 1

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

+4

+

H

UNC

+0

+

H

UNC

DECATUR IN

-12

+

H

UNC

MORRISTOWN IN

+5

+

H

UNC

LAFAYETTE IN

-10

+

H

UNC

CEDAR RAPIDS IA

+5

+

H

DN 5

-15

+

H

UNC

COUNCIL BLUFFS IA

-20

+

H

UNC

LINCOLN NE

-30

+

H

DN 5

BLAIR NE

+10

+

H

DN 5

RIVER TERMINALS

CORN

SOYBEANS

TOLEDO OH

-43

+

H

UNC

-50

+

H

UNC

SENECA IL

-22

+

H

DN 2

+5

+

H

UNC

SAVANNA IL

-26

+

H

UNC

+51

+

F

UNC

DAVENPORT IA

-20

+

H

UNC

-40

+

H

UNC

ETHANOL PLANTS

LINDEN IN

-15

+

H

UNC

UNION CITY IN

-20

+

H

UNC

ANNAWAN IL

-7

+

H

UNC

COUNCIL BLUFFS IA

+4

+

H

DN 2

SRW WHEAT

TOLEDO OH

-60

+

H

UNC

CINCINNATI OH

UNQ

UNC

DECATUR IN

-80

+

H

UNC

BURNS HARBOR IN

UNQ

UNC

NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted

NC = Not comparable, DPI = Delayed Price, N/A = Not available,

F = January, H = March, K = May, N = July

Q = 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

– CBOT soybean report

– CBOT wheat report

– U.S. grain barge freight values

– U.S. Midwest cash grain PM

– U.S. CIF/FOB Gulf Grain


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