Nov 22 (Reuters) - Corn cash basis bids were steady to mixed
at U.S. Midwest processors and terminals early on Friday as a
spike in futures weighed on the basis at some locations while a
slow pace of farmer sales bolstered bids elsewhere, grain
merchants said.
* Surging ethanol futures improved profit prospects
for makers of the grain-based fuel additive, but sharp gains in
corn futures calendar spreads limited what some elevators
were willing to pay for the grain as the "carry" declined.
* The corn basis fell 3 cents per bushel at a large
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processor and ethanol plant in Cedar Rapids, Iowa, but eased 5
cents late on Thursday at a major crushing facility in Decatur,
Illinois.
* Corn bids eased along the Illinois River and firmed along
the Mississippi River. Barge freight has fallen sharply in
recent days amid a more plentiful supply of vessels to ship
harvested supplies to the U.S. Gulf Coast export markets.
* Soybean bids also firmed along the Mississippi River and
were otherwise unchanged in light trading at interior processors
and elevators with the harvest about done.
* Dry weather beginning this weekend and continuing next
week should allow U.S. farmers to finish harvesting the 2013
corn and soybean crops, an agricultural meteorologist said.
Basis values are quoted against CBOT futures in cts/bu:
CORN SOYBEANS
CINCINNATI OH -5 + Z UNC -10 + 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 +15 + Z UP 5 +15 + F UNC
DECATUR IN +3 + F UNC
MORRISTOWN IN +0 + F UNC
LAFAYETTE IN +7 + F UNC
CEDAR RAPIDS +20 + Z DN 3 -7 + F UNC
COUNCIL BLUFFS IA -8 + F UNC
LINCOLN NE -5 + F UNC
BLAIR NE +0 + Z UNC
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -20 + Z UNC +5 + F UNC
SENECA IL -4 + Z DN 3 +7 + F UNC
SAVANNA IL +0 + Z UNC -6 + F UNC
DAVENPORT IA +1 + Z UP 1 -2 + F UP 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 Lisa Von
Ahn)
U.S. Cash Grains-Corn bids steady to mixed; farmer sales slow
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