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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