June 9 (Reuters) – Spot basis bids for corn were mixed at processors and ethanol plants, but held steady at elevators around the U.S. Midwest on Monday as farmers were slow to sell crops, dealers said.
* Weaker U.S. corn futures values kept a lid on corn sales in the cash market, grain merchants said. Front-month July corn futures fell more than 2 percent on Monday.
* Corn bids were narrowly mixed at river terminals and ethanol plants as slowed farmer sales were offset by limited demand and plentiful supplies.
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* Soybean basis bids held mostly steady in quiet trade. U.S. soybean futures traded higher but farmers waited before selling crops, dealers said.
* Crops were still being assessed in western portions of Iowa after a strong hail and wind storm caused damage last week, a dealer in Council Bluffs, Iowa said.
* Soft red winter wheat bids held steady and farmer sales were quiet while harvest is still a couple weeks away, dealers said.
Basis values are quoted against CBOT futures in cts/bu:
CORN SOYBEANS
CINCINNATI OH +2 + N UNC +95 + Q UNC
BURNS HARBOR IN -12 + N UNC +15 + N UNC
DECATUR IN -15 + N UNC
DES MOINES IA UNQ UNC
LINCOLN NE -13 + N UNC
PROCESSORS
CORN SOYBEANS
DECATUR IL +18 + N UNC +95 + Q UNC
DECATUR IN +115 + Q UNC
MORRISTOWN IN +115 + Q UNC
LAFAYETTE IN +115 + Q UNC
CEDAR RAPIDS IA +23 + N DN 2 +70 + Q DN 5
COUNCIL BLUFFS IA +62 + Q UNC
LINCOLN NE +62 + Q UNC
BLAIR NE +0 + N UP 1
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -13 + N UNC +85 + Q UNC
SENECA IL -1 + N UNC +15 + N UNC
SAVANNA IL -1 + N UNC -5 + N UP 2
DAVENPORT IA +5 + N UNC -1 + N UNC
ETHANOL PLANTS
LINDEN IN +0 + N UNC
UNION CITY IN +9 + N DN 1
ANNAWAN IL +6 + N DN 2
COUNCIL BLUFFS IA +0 + N UNC
SRW WHEAT
TOLEDO OH +0 + N UNC
CINCINNATI OH -10 + N UP 5
DECATUR IN -15 + N UNC
BURNS HARBOR IN -20 + N UNC
NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, N = July, Q = August
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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 Meredith
Mazzilli)
