Corn and soybean basis bids flat to higher at river terminals

Corn and soybean basis bids were steady to up at river terminals in a spot check of locations in the U.S. Midwest on Friday. Soybean basis bids were steady to down at processors and corn bids were flat to lower at ethanol plants.

• The corn basis improved at river terminals in Seneca, Illinois and Davenport, Iowa. The soybean basis rose at a river terminal in Toledo, Ohio.

• The corn basis fell at an ethanol plant in Union City, Indiana and the soybean basis lost ground at a processor in Cedar Rapids, Iowa.

• U.S. farmers have begun the early stages of the corn and soybean harvests, aided by a drier weather pattern in the Midwest crop belt.

• Chicago soybean futures traded near flat on Friday, poised for a second weekly loss due to large Chinese purchases of Argentine soybeans at the expense of U.S. supplies and seasonal pressure from the North American harvest.

• Wheat and corn prices also fell on bearish sentiment in the agricultural markets.

• Most active soybeans ZS1! were steady at $10.12-1/4 per bushel around midday. Corn ZC1! fell 4-1/4 cents to $4.21-1/2 per bushel.

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

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 = July, Q = August, U = September, X = November, Z = December

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LINKS: (0#USCSHGRN-AM)

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

(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 AM

- U.S. CIF/FOB Gulf Grain