Dec 17 (Reuters) - Corn and soybean spot basis bids were
steady to narrowly mixed around the U.S. Midwest early on
Tuesday as a slow pace of farmer sales was offset by dull demand
from processors and elevators, dealers said.
* Profit margins for both soybean processors and corn
ethanol plants remained historically strong but dealers were not
bidding aggressively for supplies amid ideas that farmers will
increase offerings of the crops in the new tax year of 2014.
* Farmers have sold a larger portion of their soybean
harvest than their corn supplies so far this year. However, the
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growers have sold little of either crop so far this week as
futures traded in narrow ranges at the Chicago Board of Trade.
* Soybean bids eased at processors in Iowa and Nebraska amid
slightly reduced demand for soymeal while bids firmed along the
Illinois River following a downturn in barge freight on Midwest
waterways.
* Corn bids jumped at a large processor in Cedar Rapids,
Iowa, but eased at a closely watched processor in Blair,
Nebraska. Bids for the yellow grain firmed at Indiana and Ohio
elevators and eased at a Nebraska elevator.
* Soft red winter wheat bids climbed 5 cents at an elevator
in Decatur, Indiana.
* U.S. soybean futures fell while corn drifted down towards
the prior session's two-week low as an improving crop outlook in
South America kept both markets on the defensive.
Basis values quoted against CBOT futures in cents/bushel:
CORN SOYBEANS
CINCINNATI OH -11 + H UP 3 -5 + F UNC
BURNS HARBOR IN -25 + H UNC -20 + F UNC
DECATUR IN -15 + H UP 5
DES MOINES IA UNQ UNC
LINCOLN NE -18 + H DN 3
PROCESSORS
CORN SOYBEANS
DECATUR IL +0 + H UNC +15 + F UNC
DECATUR IN -9 + F UNC
MORRISTOWN IN -2 + F UNC
LAFAYETTE IN +5 + F UNC
CEDAR RAPIDS IA +20 + H UP 3 -22 + F UNC
COUNCIL BLUFFS IA -25 + F DN 2
LINCOLN NE -25 + F DN 5
BLAIR NE +2 + H DN 2
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -14 + H UNC +5 + F UNC
SENECA IL -16 + H UNC +8 + F UP 1
SAVANNA IL -15 + H UNC +5 + H UNC
DAVENPORT IA -4 + H UNC -11 + H UNC
ETHANOL PLANTS
LINDEN IN -10 + H UNC
UNION CITY IN -2 + H UNC
ANNAWAN IL -2 + H UNC
COUNCIL BLUFFS IA -8 + H UNC
SRW WHEAT
TOLEDO OH -20 + H UNC
CINCINNATI OH -42 + H UNC
DECATUR IN -15 + H UP 5
BURNS HARBOR IN -47 + H UNC
NOTES: 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 Michael Hirtzer in Chicago; Editing by Meredith
Mazzilli)
U.S. Cash Grains-Bids steady to mixed on slow sales, dull demand
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