Jan 17 (Reuters) - Cash basis bids for corn and soybeans
held mostly steady around the U.S. Midwest on Friday after
softer corn futures and a late soybean futures rally failed to
induce farmer sales, grain merchants said.
* Farmers booked sales of grain and soy in recent days and
waited for better prices before unloading more crops, dealers
said.
* A soybean bids rose by 6 cents per bushel at an Illinois
River terminal, but soy bids held steady elsewhere.
* Private analytics firm Informa Economics raised its
forecast for 2014 U.S. corn plantings to 93.319 million acres
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from 91.846 million, the firm said in a client note on Friday.
* Informa pared its soybean plantings estimate to 81.264
million acres, from 81.929 million previously.
* The U.S. Agriculture Department should develop a survey of
corn feed use to make its benchmark monthly and quarterly grain
estimates more accurate for the grain industry, according to a
University of Illinois study of U.S. grain and soybean forecasts
issued on Friday.
* The Chicago Board of Trade futures market will be closed
on Monday in observance of the Martin Luther King Jr. Day
holiday.
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 -13 + H UNC
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 -4 + H UNC
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 +31 + H +25 + H UP 6
Fort Worth TX +128 + H +128 + H UNC
corn
Blair NE corn -3 + H -3 + H UNC
Council Bluffs, IA
(elevator)
Corn -7 + H -7 + H UNC
Soy -15 + H -15 + H UNC
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)
U.S. Cash Grains-Corn, soy bids hold steady; farmer sales stall
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