US Cash Grains-Corn, soy basis holds steady while futures bounce

ReutersApr 11, 2025 8:51 PM

CHICAGO, April 11 (Reuters) - Spot basis bids for soybeans and corn were steady in the U.S. Midwest on Friday in a quiet cash trade following a week of steady increases.

Farmers are reluctant to sell amid relatively weak prices and have turned their attention to spring planting and planting preparations, a dealer said.

Chicago corn futures firmed on U.S. Department of Agriculture data and soybeans climbed, unruffled by the latest hike in China's retaliatory tariffs against U.S. goods.

The USDA lowered its 2024-25 corn stocks forecast on Thursday to 1.47 billion bushels from 1.54 billion in March. Analysts had expected 1.51 billion, according to a Reuters poll.

The USDA estimated domestic soybean stocks at 375 million bushels, compared to its March estimate for 380 million and analysts' expectations for 379 million.

The dollar weakened against major currencies on Friday as the back-and-forth over tariffs shook investor confidence in the U.S. currency as a safe haven, sending it to a three-year low versus the euro.

A weaker dollar makes U.S. exports cheaper and therefore more competitive for holders of other currencies.

CBOT May soybean futures SK25 settled up 13-3/4 cents to end at $10.42-3/4 a bushel.

May corn futures CK25 settled up 7-1/2 cents at $4.90-1/4 a bushel, its sixth straight higher close.

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

	Current			Previous
ELEVATORS	Bid			Bid
Chicago, Illinois
Corn processors	+5	+	K	+5	+	K	UNC
Corn elevators	-10	+	K	-10	+	K	UNC
Soybean elevators	-10	+	K	-10	+	K	UNC
Wheat elevators	+0	+	K	+0	+	K	UNC
Wheat processors	-5	+	K	-5	+	K	UNC
Decatur IL corn	+1	+	K	+1	+	K	UNC
Decatur IL soybeans	+6	+	K	+6	+	K	UNC
Burns Harbor IN corn	UNQ			UNQ			UNC
Burns Harbor IN soy	UNQ			UNQ			UNC
Lafayette IN soy	+15	+	K	+15	+	K	UNC
Toledo OH (port)
Corn	+0	+	K	+0	+	K	UNC
Soy	-10	+	K	-10	+	K	UNC
SRW wheat	-35	+	K	-35	+	K	UNC
Davenport IA (river)
Corn	-13	+	K	-13	+	K	UNC
Soy	-19	+	K	-19	+	K	UNC
Evansville IN (rail)
15-car CSX corn	UNQ			UNQ			UNC
Cincinnati OH (rail)
3-car corn	UNQ			UNQ			UNC
Hereford TX corn	+130	+	K	+130	+	K	UNC
Columbus OH (rail)
3-car corn	+25	+	K	+25	+	K	UNC
Morris IL (river)
Corn	-10	+	K	-10	+	K	UNC
Soybeans	-13	+	K	-13	+	K	UNC
Fort Worth TX corn	+130	+	K	+130	+	K	UNC
Blair NE corn	-8	+	K	-8	+	K	UNC
Council Bluffs, IA (elevator)
Corn	-8	+	K	-8	+	K	UNC
Soy	-30	+	K	-30	+	K	UNC
Des Moines IA soy	-20	+	K	-20	+	K	UNC
Sioux City IA soy	-5	+	K	-5	+	K	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

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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 COR/

- CBOT soybean report SOY/C

- CBOT wheat report WHE/C

- U.S. grain barge freight values BG/US

- U.S. Midwest cash grain AM GRA/M

- U.S. CIF/FOB Gulf Grain GRA/F

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