Dec 23 (Reuters) - Corn and soybean spot basis bids held
mostly steady across the U.S. Midwest early on Monday, supported
by a slow pace of sales and deliveries in a slow start to a
holiday-shortened week, grain merchants said.
* Chicago Board of Trade corn futures were trading at
the highest level since Nov. 12 because of dry growing
conditions in Argentina, but the higher prices failed to entice
much selling from farmers or commercial elevators.
* Some farmers were vacationing ahead of Wednesday's
Christmas holiday. The growers had made few fresh sales so far
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this month in the hopes of selling a majority of their corn
harvest at higher prices next year.
* But few processors and ethanol plants were bidding
aggressively for supplies amid expectations of a spike in sales
in the early days of the new tax year.
* Soybean bids eased 5 cents per bushel late on Friday at a
closely watched processor in Decatur, Illinois, while bids for
the oilseed gained by that amount at a processor in Lincoln,
Nebraska. Corn bids eased 1 cent along the Illinois River and
were largely unchanged elsewhere.
* Some processors and elevators were expected to be closed
for grain deliveries on Tuesday while most will shut down in
observance of the holiday on Wednesday. Bitter cold temperatures
in the western and northern parts of the region also led to a
slowdown in deliveries, the dealers said.
Basis values quoted against CBOT futures in cents/bushel:
CORN SOYBEANS
CINCINNATI OH -11 + H UNC -5 + F UNC
BURNS HARBOR IN -20 + H UNC -20 + F UNC
DECATUR IN -15 + H UNC
DES MOINES IA UNQ UNC
LINCOLN NE -18 + H UNC
PROCESSORS
CORN SOYBEANS
DECATUR IL +0 + H UNC +10 + F DN 5
DECATUR IN -9 + F UNC
MORRISTOWN IN -2 + F UNC
LAFAYETTE IN +5 + F UNC
CEDAR RAPIDS IA +15 + H UNC -27 + F UNC
COUNCIL BLUFFS IA -30 + F UNC
LINCOLN NE -20 + F UP 5
BLAIR NE +2 + H UNC
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -14 + H UNC +0 + F UNC
SENECA IL -18 + H DN 1 +8 + F UP 2
SAVANNA IL -15 + H UNC +5 + H UNC
DAVENPORT IA -4 + H UNC -8 + H UNC
ETHANOL PLANTS
LINDEN IN -8 + H UNC
UNION CITY IN +0 + H UNC
ANNAWAN IL -2 + H UNC
COUNCIL BLUFFS IA -10 + H UNC
SRW WHEAT
TOLEDO OH -20 + H UNC
CINCINNATI OH -42 + H UNC
DECATUR IN -10 + H UNC
BURNS HARBOR IN -47 + H UNC
NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, 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 Jim
Marshall)
U.S. Cash Grains-Corn, soy basis hold on slow sales
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