Processor, river bids for soybeans mixed

Feb 1, 202315:04 UTC

Spot basis bids for soybeans were mixed at U.S. Midwest processors early on Wednesday, rising at plants west of the Mississippi River but falling at facilities in the eastern half of the region.

* Soy bids also were mixed at terminals along the region's rivers.

* The soybean basis was weak at eastern elevators.

* Cash bids for corn were firm at river terminals and ethanol plants, and flat at interior elevators and processors.

* Farmer sales of both commodities were slow.

* Growers could afford to wait and see if prices rallied before committing to new deals, an Iowa dealer said.

* Dealers continued to roll their soybean basis bids to the Chicago Board of Trade May soybean futures contract (SK3) from the March contract (SH3).

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

ELEVATORS
	CORN				SOYBEANS
CINCINNATI OH	+2	+	H	UNC	+23	+	H	DN 4
BURNS HARBOR IN	-65	+	H	UNC	-65	+	H	UNC
DECATUR IN	UNQ			UNC
DES MOINES IA					UNQ			UNC
LINCOLN NE	+30	+	H	UNC
PROCESSORS
	CORN				SOYBEANS
DECATUR IL	+27	+	H	UNC	+10	+	H	UNC
DECATUR IN					+0	+	H	DN 2
MORRISTOWN IN					+0	+	H	UNC
LAFAYETTE IN					-5	+	H	UNC
CEDAR RAPIDS IA	-4	+	H	UNC	-50	+	H	UNC
COUNCIL BLUFFS IA					+35	+	K	NC
LINCOLN NE					+40	+	H	UP 10
BLAIR NE	+50	+	H	UNC
RIVER TERMINALS
	CORN				SOYBEANS
TOLEDO OH	-25	+	H	UNC	-20	+	H	UNC
SENECA IL	-15	+	H	UNC	+2	+	H	DN 1
SAVANNA IL	-15	+	H	UP 3	-34	+	H	UP 4
DAVENPORT IA	+0	+	K	UNC	-8	+	K	UNC
ETHANOL PLANTS
LINDEN IN	-15	+	H	UP 5
UNION CITY IN	+7	+	H	UNC
ANNAWAN IL	-4	+	H	UNC
COUNCIL BLUFFS IA	+35	+	H	UP 2
SRW WHEAT
TOLEDO OH	-35	+	H	UNC
CINCINNATI OH	UNQ			UNC
DECATUR IN	-35	+	H	UNC
BURNS HARBOR IN	UNQ			UNC