Nov 8 (Reuters) - Corn cash basis bids were mixed around the
U.S. Midwest early on Friday after a spike in sales pressured
bids at some processors, while an overall slow pace of sales
bolstered the basis at ethanol plants, grain merchants said.
* Many growers increased sales of the yellow grain ahead of
the monthly U.S. Agriculture Department supply/demand report,
due at 11 a.m. CST (1700 GMT), which is expected to show larger
harvested supplies of both corn and soybeans.
* But growers have been reluctant sellers for several weeks
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amid the lowest corn futures in three years. Farmers are
utilizing on-farm grain bins to store supplies in hopes of
selling later at higher prices.
* Rain delays to the harvest this week also underpinned bids
for corn and soybeans. A return to dry conditions in the Midwest
over the next couple of weeks will allow farmers to begin
wrapping up the harvest, a meteorologist said.
* Corn bids eased at large processors and ethanol plants in
Decatur, Illinois, and Cedar Rapids, Iowa, but firmed at smaller
ethanol facilities in Indiana, Illinois and Iowa.
* Bids for both crops eased along the Mississippi River
following higher shipping costs on the waterway.
* Soybean spot basis bids were largely steady at interior
processors and elevators, supported by good demand and a slow
pace of farmer sales.
Basis values are quoted against CBOT futures in cts/bu:
CORN SOYBEANS
CINCINNATI OH -15 + Z UNC +0 + F UNC
BURNS HARBOR IN -27 + Z UNC -6 + F UNC
DECATUR IN -25 + Z UNC
DES MOINES IA -5 + F UNC
LINCOLN NE -5 + Z UNC
PROCESSORS
CORN SOYBEANS
DECATUR IL +12 + Z DN 3 +15 + F UNC
DECATUR IN +3 + F UNC
MORRISTOWN IN +5 + F UNC
LAFAYETTE IN +7 + F UNC
CEDAR RAPIDS +18 + Z DN 8 +5 + F UNC
COUNCIL BLUFFS -8 + F UNC
LINCOLN NE -15 + F UNC
BLAIR NE +5 + Z UNC
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -26 + Z UNC +21 + F UP 1
SENECA IL -12 + Z UP 1 +7 + F UP 7
SAVANNA IL -11 + Z DN 2 +6 + X DN 1
DAVENPORT IA -4 + Z DN 2 +6 + F DN 2
ETHANOL PLANTS
LINDEN IN -15 + Z UNC
UNION CITY IN -15 + Z UP 1
ANNAWAN IL +0 + Z UP 4
COUNCIL BLUFFS IA -2 + Z UP 3
SRW WHEAT
TOLEDO -30 + Z UNC
CINCINNATI -30 + Z UNC
DECATUR IN -10 + Z UNC
BURNS HARBOR -35 + Z UNC
NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, X = November,
Z = December, F = January, H = March
---------------------------------------------------------------
LINKS:
For U.S. forward basis spreadsheets, please double-click on:
- CBOT corn report
- CBOT soybean report
- CBOT wheat report
- U.S. grain barge freight values
- U.S. Midwest cash grain PM
- U.S. CIF Gulf Grain
- U.S. FOB Gulf Grain
(Reporting by Michael Hirtzer in Chicago; Editing by Marguerita
Choy and John Wallace)
U.S. Cash Grains-Corn bids mixed after big sales ahead of report
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