Nov 18 (Reuters) - Soybean spot basis bids were steady to
lower at U.S. Midwest processors and river terminals early on
Monday as a jump in barge freight and a slight reduction in
demand for soymeal pressured bids with the harvest nearly
complete, dealers said.
* Bearish buyers of soymeal have slowed their pace of
purchasing in recent days at the same time that farmers
increased sales of freshly harvested soybeans. The soy basis
eased at several large Iowa processor plants and fell late on
Friday at a major crushing facility in Decatur, Illinois.
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* Soaring shipping costs on the lower Ohio River also
squeezed bids along the waterway, which led to follow-through
weakness in the basis at nearby processors and elevators in
Ohio, Indiana and Illinois.
* Corn spot basis bids were largely unchanged as the
seasonal buildup in supplies during the harvest was offset by
good demand and strong profit margins for processors and ethanol
plants.
* Many ethanol makers are earning their best profits in
several years even as the government on Friday proposed reducing
the mandate for the amount of the biofuel that is blended into
the nation's gasoline.
* Farmer sales of corn and soybeans ranged from light to
nonexistent early on Monday as futures hovered near recent lows
while rains were likely to delay the final phases of harvest.
Basis values are quoted against CBOT futures in cts/bu:
CORN SOYBEANS
CINCINNATI OH -15 + Z UNC -22 + F UNC
BURNS HARBOR IN -24 + Z UNC -20 + F DN 14
DECATUR IN -25 + Z UNC
DES MOINES IA -20 + F UNC
LINCOLN NE -8 + Z UNC
PROCESSORS
CORN SOYBEANS
DECATUR IL +10 + Z UNC +15 + F DN 2
DECATUR IN +3 + F UNC
MORRISTOWN IN +0 + F UNC
LAFAYETTE IN +7 + F UNC
CEDAR RAPIDS +23 + Z UNC -15 + F DN 3
COUNCIL BLUFFS IA -5 + F UNC
LINCOLN NE +0 + F UNC
BLAIR NE +5 + Z UNC
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -24 + Z UNC +15 + F UNC
SENECA IL -22 + Z UNC +7 + F UP 2
SAVANNA IL -9 + Z UNC +0 + F DN 2
DAVENPORT IA -2 + Z DN 2 +0 + F DN 2
ETHANOL PLANTS
LINDEN IN -10 + Z UP 5
UNION CITY IN -15 + Z UNC
ANNAWAN IL +4 + Z UNC
COUNCIL BLUFFS IA -8 + Z UNC
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, 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 Maureen
Bavdek; )
U.S. Cash Grains-Soy bids ease on supply, corn basis steady
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