Dec 18 (Reuters) - Corn and soybean cash basis bids held
steady around the U.S. Midwest on Wednesday after lower futures
at the Chicago Board of Trade stalled farmer sales of the crops,
grain merchants said.
* Some farmers sold soybeans early but sales of the oilseed
largely halted after CBOT soybean futures prices fell, a Toledo
grain merchant said.
* Soybean futures on the Chicago Board of Trade fell 1.7
percent on Wednesday, the most in a month, on technical selling
and profit-taking after the spot January contract failed to
match last week's multi-month high of $13.53-1/2 a bushel,
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traders said.
* Weaker CBOT corn futures also made cash prices
unattractive to farmers who chose to keep the grain stowed away
until prices improve, dealers said.
* Chicago Board of Trade corn futures closed lower on
Wednesday on abundant corn stocks and pressure from a slide in
soy, as well as news China has rejected cargoes of corn from the
U.S. that were an unapproved GMO variety, traders said.
* Many sellers have already entered holiday-mode with little
interest in selling grain and soy, dealers said. The growers
hope to see improved cash prices in the first few months of the
new tax year 2014.
Basis values are quoted against CBOT futures in cts/bu:
Current Previous
Bid Bid
Chicago, Illinois
Corn processors +0 + H +0 + H UNC
Corn elevators -5 + H -5 + H UNC
Soybean elevators +5 + F +5 + F UNC
Wheat elevators -5 + H -5 + H UNC
Wheat processors -10 + H -10 + H UNC
Decatur IL corn +0 + H +0 + H UNC
Decatur IL soybeans +15 + F +15 + F UNC
Burns Harbor IN corn -25 + H -25 + H UNC
Burns Harbor IN soy -20 + F -20 + F UNC
Lafayette IN soy +5 + F +5 + F UNC
Toledo OH (port)
Corn -14 + H -14 + H UNC
Soy +0 + F +0 + F UNC
SRW wheat -10 + H -10 + H UNC
Davenport IA (river)
Corn -4 + H -4 + H UNC
Soy -11 + H -11 + H UNC
Evansville IN (rail)
15-car CSX corn +0 + H +0 + H UNC
Cincinnati OH (rail)
3-car corn -3 + H -3 + H UNC
Hereford TX corn +94 + H +94 + H UNC
Columbus OH (rail)
3-car corn -3 + H -3 + H UNC
Morris IL (river)
Corn -17 + H -17 + H UNC
Soybeans +8 + F +8 + F UNC
Fort Worth TX corn +120 + H +120 + H UNC
Blair NE corn +2 + H +2 + H UNC
Council Bluffs, IA (elevator)
Corn -10 + H -10 + H UNC
Soy -33 + F -33 + F UNC
Des Moines IA soy UNQ UNQ UNC
Sioux City IA soy -33 + F -33 + F UNC
NOTE: 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 Meredith Davis in Chicago; Editing by David
Gregorio)
U.S. Cash Grains-Bids hold steady; sales slow
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