Nov 22 (Reuters) - Soybean cash basis bids were steady to
mixed across the U.S. Midwest on Friday as a 2 percent jump in
futures sparked the largest volume in cash sales this
week, dealers said.
* The rally at the Chicago Board of Trade brought cash
prices for soybeans above $13 per bushel at many locations,
spurring sales at that level. Still, the recent slow pace of
sales with the harvest roughly complete supported bids elsewhere
in the region.
* The soy basis eased 5 cents per bushel at a processor in
Sioux City, Iowa, while bids also declined at a crushing plant
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in Lafayette, Indiana.
* But bids for both soybeans and corn firmed along the
Mississippi River and at an elevator in Council Bluffs, Iowa.
* Farmer sales of corn were minimal as futures edged
narrowly lower, hovering just above their recent three-year low.
Some end users were said to be pushing aggressively for
deliveries in December amid strong ethanol profit margins but
bids for the yellow grain were unchanged at many locations.
* Rains and snow delayed the final phases of the corn and
soybean harvest, but dry conditions are forecast for next week,
providing growers an opportunity to complete their fieldwork.
* Barge freight costs were steady on Midwest waterways with
a satisfactory supply of empty vessels to meet demand to ship
harvested bushels to the U.S. Gulf Coast export markets.
Basis values are quoted against CBOT futures in cts/bu:
Current Previous
Bid Bid
Chicago, Illinois
Corn processors +14 + Z +14 + Z UNC
Corn elevators +0 + Z -3 + Z UP 3
Soybean elevators +5 + F +5 + F UNC
Wheat elevators +0 + Z +0 + Z UNC
Wheat processors -10 + Z -10 + Z UNC
Decatur IL corn +15 + Z +15 + Z UNC
Decatur IL soybeans +15 + F +15 + F UNC
Burns Harbor IN corn -24 + Z -24 + Z UNC
Burns Harbor IN soy -20 + F -20 + F UNC
Lafayette IN soy +0 + F +7 + F DN 7
Toledo OH (port)
Corn -21 + H -21 + H UNC
Soy +6 + F +6 + F UNC
SRW wheat -13 + Z -13 + Z UNC
Davenport IA (river)
Corn +0 + Z -1 + Z UP 1
Soy +0 + F -2 + F UP 2
Evansville IN (rail)
15-car CSX corn +8 + Z +8 + Z UNC
Cincinnati OH (rail)
3-car corn +0 + Z +0 + Z UNC
Hereford TX corn +100 + Z +100 + Z UNC
Columbus OH (rail)
3-car corn +0 + Z +0 + Z UNC
Morris IL (river)
Corn -4 + Z -4 + Z UNC
Soybeans +7 + F +7 + F UNC
Fort Worth TX corn +130 + Z +130 + Z UNC
Blair NE corn +0 + Z +0 + Z UNC
Council Bluffs, IA (elevator)
Corn -7 + Z -15 + Z UP 8
Soy -11 + F -13 + F UP 2
Des Moines IA soy -30 + X -30 + X UNC
Sioux City IA soy -17 + F -12 + F DN 5
NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, X = November,
Z = December
---------------------------------------------------------------
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 Jim
Marshall)
US Cash Grains-Soy bids mixed after rally spurs sales, corn flat
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