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U.S. Cash Grains-Bids steady to mixed on slow sales, dull demand

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
	
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)

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