Corn basis softens at ethanol plants

The corn basis was steady to weaker at ethanol plants in the U.S. Midwest on Thursday as the harvest progressed, while soybean basis bids were steady to stronger at crushing sites, spot checks showed.

• Radar images showed showers crossing portions of central Nebraska, eastern Iowa and southeast Minnesota on Thursday, but harvest delays across the Midwest have been minor so far.

• The corn basis fell by a nickel per bushel at ethanol facilities in Linden, Indiana, and Annawan, Illinois. The Annawan basis had firmed by 15 cents earlier this week before weakening on Thursday.

• The soybean basis jumped by 15 cents a bushel at a crushing plant in Cedar Rapids, Iowa.

• The bean basis firmed by 2 cents at Davenport, Iowa, where grain is loaded onto barges for shipment on the Mississippi River toward Gulf exporters.

• Market players were still digesting a larger-than-expected September soy crush figure released on Wednesday by the National Oilseed Processors Association. The trade group said its members crushed 197.863 million bushels of soybeans last month, the fourth-highest level for any month on record.

• On the Chicago Board of Trade at mid-session, November soybean futures (SX25) were up 6 cents at $10.12-1/2 per bushel and December corn (CZ25) was last up 5 cents at $4.21-3/4 a bushel.

Basis values are quoted against CBOT futures in cts/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-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