Rail corn and soy basis mostly flat

Basis bids for corn and soybeans were mostly steady at locations in the Midwest on Friday.

• The basis for corn fell 5 cents at an elevator in Blair, Nebraska.

• The basis for soybeans rose 10 cents at a processor in Sioux City, Iowa.

• Basis bids were unchanged at all other locations in the spot check.

• Rain delays to the harvest have been limited this week.

• Some merchandisers said the soybean harvest has been winding down in key states including Indiana, Illinois and Iowa, but the ongoing government shutdown has prevented the U.S. Department of Agriculture from releasing its weekly crop progress reports.

• At the Chicago Board of Trade, U.S. corn futures extended gains as slow farmer sales of newly harvested grain and reports of lower-than-expected harvest yields supported the market.

• Soybeans rose as domestic demand remained brisk and as trade negotiations between the U.S. and top soy buyer China appeared to be back on track following moves by both sides that escalated trade tensions last week.

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