Aug 7 (Reuters) – Spot corn basis bids were steady to slightly higher around the U.S. Midwest on Thursday in quiet trade, dealers said.
* Not many farmers sold corn crops as the Chicago Board of Trade corn futures settled lower on the day pressured by expectations of a large corn crop and lackluster export demand.
* Corn bids rose by 2 cents per bushel at an elevator near Chicago and a Blair, Nebraska, processor.
* Bids for corn shipped by railroad also rose by 5 to 10 cents in Ohio, a rail broker said.
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* Soybean and soft red winter wheat spot basis bids were mostly unchanged around the U.S. Midwest region.
* Very light amounts of SRW wheat trickled in to fill contract commitments, dealers said. They said no new SRW wheat sales occurred as U.S. wheat futures slipped more than 1 percent after rallying a day before.
* Farmer soy sales also stalled on Thursday. Cash soybean prices were far from most farmers’ target range of $13 to $14 per bushel, so the growers waited before selling additional amounts of the oilseed crops, dealers said.
* In South America, Argentina has completed a record 55.5 million-tonne soybean harvest despite having lost 860,000 hectares, or 4.2 percent of total 2013/14 planting area due to excessively wet weather, the Buenos Aires Grains Exchange said on Thursday.
Basis values are quoted against CBOT futures in cts/bu:
Current Previous
Bid Bid
Chicago, Illinois
Corn processors +18 + U +18 + U UNC
Corn elevators +0 + U -2 + U UP 2
Soybean elevators +125 + X +125 + X UNC
Wheat elevators -5 + U -5 + U UNC
Wheat processors -10 + U -10 + U UNC
Decatur IL corn +30 + U +30 + U UNC
Decatur IL soybeans +180 + X +180 + X UNC
Burns Harbor IN corn -14 + U -14 + U UNC
Burns Harbor IN soy +125 + X +125 + X UNC
Lafayette IN soy +225 + X UNQ X NC
Toledo OH (port)
Corn -9 + U -9 + U UNC
Soy +170 + X +170 + X UNC
SRW wheat +15 + U +15 + U UNC
Davenport IA (river)
Corn +4 + U +4 + U UNC
Soy +100 + X +100 + X UNC
Evansville IN (rail)
15-car CSX corn +10 + U +12 + U DN 2
Cincinnati OH (rail)
3-car corn +0 + U -5 + U UP 5
Hereford TX corn +120 + U +120 + U UNC
Columbus OH (rail)
3-car corn +10 + U +0 + U UP
10
Morris IL (river)
Corn +5 + U +5 + U UNC
Soybeans +35 + Q +35 + Q UNC
Fort Worth TX corn +120 + U +120 + U UNC
Blair NE corn -6 + U -8 + U UP 2
Council Bluffs, IA
(elevator)
Corn -15 + U -15 + U UNC
Soy +100 + X +100 + X UNC
Des Moines IA soy UNQ UNQ UNC
Sioux City IA soy +115 + X +115 + X UNC
NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, Q = August,
U = September, X = November
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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 Gunna
Dickson)
