Soybean basis bids steady to higher at processors

Basis bids for soybeans were flat to higher at processors and mixed at river terminals in a spot check of locations in the U.S. Midwest on Monday as futures fell.

• Soybean basis bids rose at a processor in Sioux City, Iowa, and a river terminal in Davenport, Iowa. They fell at a river terminal in Morris, Illinois.

• Corn basis bids rose at an elevator in the Chicago area and were steady elsewhere in the spot check.

• The U.S. Department of Agriculture said on Monday that the U.S. corn harvest was 11% complete by Sunday and the soybean harvest was 9% finished, behind most analysts' expectations but matching the five-year averages for both crops.

• The USDA rated 66% of the corn crop in good-to-excellent condition, down 1 percentage point from last week.

• Soybean ratings fell to 61% good-to-excellent, down 2 percentage points from last week.

• Drier weather this week in the U.S. Midwest is likely to limit harvesting delays, according to Commodity Weather Group.

• On the Chicago Board of Trade, December corn (CZ25) settled 2-1/4 cents lower to $4.21-3/4 per bushel, and CBOT November soybeans (SX25) settled 14-1/2 cents lower to $10.11 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