Spot base bids for corn and soybeans remained unchanged Friday afternoon after futures markets hit their lowest price in more than three years.
* Some farmers in need of cash have “abandoned hope” of a market rally and sold old corn at low prices, helped by warm weather, brokers said. Producers still have large quantities from last year's harvest in stock.
* A broker forecast that farmers' selling could take a break after the first day of Chicago Board of Trade March (CH24) corn futures announcement on Feb. 29.
* Corn futures fell below $4 a bushel in the front-month contract (Cc1) on CBOT for the first time since November 2020. March corn (CH24) closed 6-1/4 cents lower at $3.99-3/4 a bushel.
* The U.S. corn market needs an extreme weather event or increased demand from a buyer like China to trigger a rally, brokers said.
Underlyings are quoted in Cent/Bu compared to CBOT futures:
|
Current |
Previous |
||||||
|
ELEVATORS |
bid |
bid |
|||||
|
Chicago, Illinois |
|||||||
|
Corn Processor |
+0 |
+ |
H |
+0 |
+ |
H |
UNC |
|
corn elevator |
-30 |
+ |
H |
-30 |
+ |
H |
UNC |
|
Soybean Elevators |
-10 |
+ |
H |
-10 |
+ |
H |
UNC |
|
Wheat elevators |
+0 |
+ |
H |
+0 |
+ |
H |
UNC |
|
Wheat Processor |
+0 |
+ |
H |
+0 |
+ |
H |
UNC |
|
Decatur IL corn |
+7 |
+ |
H |
+7 |
+ |
H |
UNC |
|
Decatur IL soybeans |
+5 |
+ |
H |
+5 |
+ |
H |
UNC |
|
Burns Harbor IN Corn |
UNQ |
UNQ |
UNC |
||||
|
Burns Harbor IN Soya |
UNQ |
UNQ |
UNC |
||||
|
Lafayette IN soy |
+10 |
+ |
H |
+10 |
+ |
H |
UNC |
|
Toledo OH (Port) |
|||||||
|
Corn |
-32 |
+ |
H |
-32 |
+ |
H |
UNC |
|
soy |
-30 |
+ |
H |
-30 |
+ |
H |
UNC |
|
SRW wheat |
-35 |
+ |
H |
-35 |
+ |
H |
UNC |
|
Davenport IA (River) |
|||||||
|
Corn |
-10 |
+ |
H |
-10 |
+ |
H |
UNC |
|
soy |
-20 |
+ |
H |
-20 |
+ |
H |
UNC |
|
Evansville IN (train) |
|||||||
|
15-car CSX corn |
+5 |
+ |
H |
+5 |
+ |
H |
UNC |
|
Cincinnati OH (train) |
|||||||
|
3-car corn |
UNQ |
UNQ |
UNC |
||||
|
Corn from Hereford, TX |
+120 |
+ |
H |
+120 |
+ |
H |
UNC |
|
Columbus OH (train) |
|||||||
|
3-car corn |
-5 |
+ |
H |
-5 |
+ |
H |
UNC |
|
Morris IL (River) |
|||||||
|
Corn |
-10 |
+ |
H |
-10 |
+ |
H |
UNC |
|
soybeans |
-1 |
+ |
H |
-1 |
+ |
H |
UNC |
|
Corn from Fort Worth, TX |
+120 |
+ |
H |
+120 |
+ |
H |
UNC |
|
Blair NE Corn |
+12 |
+ |
H |
+12 |
+ |
H |
UNC |
|
Council Bluffs, IA (elevator) |
|||||||
|
Corn |
+4 |
+ |
H |
+4 |
+ |
H |
UNC |
|
soy |
-28 |
+ |
H |
-28 |
+ |
H |
UNC |
|
Des Moines IA am |
-12 |
+ |
H |
-12 |
+ |
H |
UNC |
|
Sioux City IA Soy |
-30 |
+ |
H |
-30 |
+ |
H |
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 = July, Q = August, U = September, X = November, Z = December
————————————————– ——-
LEFT: (0#USCSHGRN-AM)
For US forward basis tables please click:
(CORN/BASE), (SOYA/BASE), (WHEAT/BASE), (MILO/BASE)
– CBOT Corn Report
– CBOT Soybean Report
– CBOT Wheat Report
– Freight values for grain ships in the USA
– US Cash Grain AM in the Midwest
– US CIF/FOB Gulf Grain
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