Jan 16 (Reuters) - Cash basis bids for corn and soybeans
held mostly steady around the U.S. Midwest on Thursday after
narrow gains in corn futures failed to entice farmer sales while
lower soy futures kept country selling to a minimum, grain
merchants said.
* Soybean bids were mixed at river terminals, rising along
the mid-Mississippi and easing along the Illinois. Barge freight
costs were steady to higher amid an increased rate of vessel
loadings on Midwest rivers to ship supplies to export terminals
along the U.S. Gulf Coast.
* Corn bids rose 1 cent at a northern Ohio elevator and 2
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* Farmers increased sales of both crops earlier this week as
corn and soybean futures rose to the highest levels
in about three weeks. The sales were the largest volume seen so
far this year, leading some processors and ethanol plants to
reduce hours in which they can receive the crops.
* But profitable processing margins limited losses in the
basis, with ethanol and soy product makers eager for more
supplies to crush during the next few months.
Basis values are quoted against CBOT futures in cts/bu:
Current Previous
Bid Bid
Chicago, Illinois
Corn processors +4 + H +4 + H UNC
Corn elevators -5 + H -5 + H UNC
Soybean elevators +10 + H +10 + H UNC
Wheat elevators +10 + H +10 + H UNC
Wheat processors +10 + H +10 + H UNC
Decatur IL corn +6 + H +6 + H UNC
Decatur IL +30 + H +30 + H UNC
soybeans
Burns Harbor IN -15 + H -15 + H UNC
corn
Burns Harbor IN -8 + H -8 + H UNC
soy
Lafayette IN soy +25 + H +25 + H UNC
Toledo OH (port)
Corn -13 + H -14 + H UP 1
Soy +12 + H +12 + H UNC
SRW wheat -10 + H -10 + H UNC
Davenport IA
(river)
Corn -3 + H -3 + H UNC
Soy -4 + H -5 + H UP 1
Evansville IN
(rail)
15-car CSX corn +10 + H +10 + H UNC
Cincinnati OH
(rail)
3-car corn +1 + H +1 + H UNC
Hereford TX corn +105 + H +105 + H UNC
Columbus OH (rail)
3-car corn +1 + H +1 + H UNC
Morris IL (river)
Corn -17 + H -17 + H UNC
Soybeans +25 + H +31 + H DN 6
Fort Worth TX corn +128 + H +128 + H UNC
Blair NE corn -3 + H -3 + H UNC
Council Bluffs, IA (elevator)
Corn -7 + H -9 + H UP 2
Soy -15 + H -12 + H DN 3
Des Moines IA soy UNQ UNQ UNC
Sioux City IA soy -23 + H -23 + H UNC
NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, 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 Meredith Davis in Chicago; Editing by Peter
Galloway)
U.S. Cash Grains-Corn, soy bids mostly steady on light sales
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