Corn, soybean basis bids mostly steady

Basis bids for corn and soybeans were mostly flat at processing facilities in the U.S. Midwest on Tuesday, dealers said.

• Cash markets have felt heavy for corn, a broker said, adding this was likely a reflection of larger-than-expected stocks in storage.

• The U.S. Department of Agriculture said in a quarterly report that farmers and grain companies held 1.532 billion bushels of corn in storage bins as of September 1, down from 1.763 billion bushels a year earlier.

• The inventories exceeded analysts' expectation for 1.337 billion bushels.

• For soybeans, U.S. stocks as of September 1 were down from the previous year due to strong demand from domestic crushers, analysts said.

• Grain dealers worried that a potential U.S. government shutdown could disrupt the release of USDA data at a time when farmers are advancing large corn and soy harvests and closely following U.S. export sales data.

Basis values are quoted against CBOT futures in cents/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-AM)

For U.S. forward basis spreadsheets, please click on:

(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 AM

- U.S. CIF/FOB Gulf Grain