Nov 20 (Reuters) - Corn cash basis bids were firm at U.S.
Midwest river terminals and ethanol plants early on Wednesday,
lifted by lower futures, a slow pace of farmer sales and a
downturn in shipping costs on the region's waterways, grain
merchants said.
* The corn basis gained 9 to 10 cents per bushel in the
river market amid strong export demand on the U.S. Gulf Coast
and lower barge freight on Midwest rivers that allowed shippers
to pay more for the grain.
* The corn and soybean harvest is nearly complete and
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growers are storing a majority of their corn supplies in on-farm
grain bins or at commercial elevators in the hopes of selling
later this year or next year at higher prices.
* Chicago Board of Trade corn futures were hovering
near their recent three-year lows on pressure from a record U.S.
harvest, keeping any selling interest from farmers at a minimum.
* Soybean spot basis bids were steady to lower after a spike
in sales last week helped satisfy near-term demand. Inverted
soybean futures continued to encourage immediate sales of
the beans while the carry in corn futures encouraged the storage
of the yellow grain.
* Soft red winter wheat bids remained unchanged in the wake
of an announcement that top global wheat importer Egypt
purchased 110,000 tonnes of U.S. supplies.
Basis values are quoted against CBOT futures in cts/bu:
CORN SOYBEANS
CINCINNATI OH -5 + Z UP 10 -22 + F UNC
BURNS HARBOR IN -24 + Z UNC -20 + F UNC
DECATUR IN -20 + Z UNC
DES MOINES IA -30 + F UNC
LINCOLN NE -8 + Z UNC
PROCESSORS
CORN SOYBEANS
DECATUR IL +10 + Z UNC +15 + F UNC
DECATUR IN +3 + F UNC
MORRISTOWN IN +0 + F UNC
LAFAYETTE IN +7 + F UNC
CEDAR RAPIDS +23 + Z UNC -7 + F UNC
COUNCIL BLUFFS IA -8 + F DN 3
LINCOLN NE +0 + F UNC
BLAIR NE +0 + Z UNC
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -20 + Z UNC +10 + F UNC
SENECA IL -5 + Z UP 10 +7 + F UNC
SAVANNA IL +0 + Z UP 9 -6 + F DN 10
DAVENPORT IA +0 + Z UNC -2 + F DN 2
ETHANOL PLANTS
LINDEN IN -5 + Z UP 5
UNION CITY IN -15 + Z UNC
ANNAWAN IL +4 + Z UNC
COUNCIL BLUFFS IA -10 + Z DN 2
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 Chris
Reese)
U.S. Cash Grains-Corn bids jump on demand, lower barge freight
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