May 9 (Reuters) – Soybean and corn spot basis bids were steady to slighter higher at elevators and processors around the U.S. Midwest early on Friday in quiet trade, dealers said.
* A southern Ohio processor increased its soybean bid by 5 cents per bushel in an effort to entice farmers to market as they largely concentrated on planting, a dealer said.
* The U.S. Department of Agriculture is scheduled to release the monthly supply and demand report on Friday at 11 a.m. CDT (1600 GMT). Farmers waited to see the report before booking any crop sales, dealers said.
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* Scattered rain showers forced farmers out of the fields in northern portions of the Eastern Corn Belt, but farmers hurried to plant as much as possible in areas where rain had not fallen yet, dealers said.
* In the Western Corn Belt, clear skies allowed farmers to largely remain in planting mode. Some were finished with corn and began to plant soybeans, a Council Bluffs, Iowa dealer said.
* Crop deliveries were steady but a lighter volume which is generally expected during planting season, dealers said.
* Many dealers were interested in knowing the planting progress in other areas than their own and awaited the government’s weekly tally on Monday.
Basis values are quoted against CBOT futures in cts/bu:
CORN SOYBEANS
CINCINNATI OH -10 + N UNC +35 + N UP 5
BURNS HARBOR IN -15 + N UNC +22 + N UNC
DECATUR IN -30 + N UNC
DES MOINES IA UNQ UNC
LINCOLN NE -19 + N UNC
PROCESSORS
CORN SOYBEANS
DECATUR IL +12 + N UP 2 +35 + N UNC
DECATUR IN +60 + N UNC
MORRISTOWN IN +55 + N UNC
LAFAYETTE IN +55 + N UNC
CEDAR RAPIDS IA +1 + N UNC +8 + N UNC
COUNCIL BLUFFS IA +10 + N UNC
LINCOLN NE +10 + N UNC
BLAIR NE -11 + N UNC
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -19 + N UNC +30 + N UNC
SENECA IL -2 + N UNC +4 + N UNC
SAVANNA IL -9 + N UNC -5 + N UP 1
DAVENPORT IA -3 + N UP 2 -2 + N UNC
ETHANOL PLANTS
LINDEN IN -8 + N UNC
UNION CITY IN +0 + N UNC
ANNAWAN IL -4 + N UP 1
COUNCIL BLUFFS IA -15 + N UNC
SRW WHEAT
TOLEDO OH -8 + N UNC
CINCINNATI OH -25 + N UNC
DECATUR IN -15 + N UNC
BURNS HARBOR IN -25 + N UNC
NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, K = May, N = July
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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 Marguerita
Choy)
