Nov 21 (Reuters) - Soybean spot basis bids were mostly
steady to lower around the U.S. Midwest early on Thursday as an
ebb in demand for soymeal following a buildup in supplies after
harvest pressured bids, dealers said.
* Basis offers for soymeal have declined at U.S. export
markets amid a slight slowdown from the near-record pace of
purchases from international buyers. Interior soy processors
also discounted soymeal offers as fresh supplies of the animal
feed become increasingly available.
* But farmer sales of soybeans have slowed following a spike
in movement last week, capping declines in the soybean basis.
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Strong export demand for soybeans was also supportive.
* The soy basis fell 5 cents per bushel at a processor in
Lincoln, Nebraska, while bids fell by the same amount for the
second time this week at an elevator in Toledo, Ohio.
* The soy basis gained 12 cents at an elevator near
Cincinnati, Ohio, rebounding after steep losses last week tied
to a spike in barge freight. Shipping costs have plunged this
week on Midwest rivers, pressured by a more plentiful supply of
empty vessels to ship freshly harvested supplies to the U.S.
Gulf Coast export markets.
* Corn spot basis bids gained 4 cents along the Illinois
River and held steady elsewhere as farmers largely delayed sales
in the hopes of selling later at higher prices.
Basis values are quoted against CBOT futures in cts/bu:
CORN SOYBEANS
CINCINNATI OH -5 + Z UNC -10 + F UP 12
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 UNC
LINCOLN NE -5 + F DN 5
BLAIR NE +0 + Z UNC
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -20 + Z UNC +5 + F DN 5
SENECA IL -1 + Z UP 4 +7 + F UNC
SAVANNA IL +0 + Z UNC -6 + F UNC
DAVENPORT IA +0 + Z UNC -4 + F DN 2
ETHANOL PLANTS
LINDEN IN -5 + Z UNC
UNION CITY IN -15 + Z UNC
ANNAWAN IL +4 + Z UNC
COUNCIL BLUFFS IA -10 + 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 Meredith
Mazzilli)
U.S. Cash Grains-Soy bids steady to weak as meal demand ebbs
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