Oct 16 (Reuters) – Cash basis bids for corn weakened in the U.S. Midwest on Thursday as farmers prepared to speed up the pace of harvest after rain-related delays, grain merchants said.
* Cash basis bids for soybeans held mostly steady.
* Forecasts for warmer, drier weather in the Corn Belt fueled expectations that harvests will advance, bringing fresh supplies of grain in from the fields, merchants said.
* Chicago Board of Trade corn and soy futures rose on Thursday in a rebound from losses the previous session.
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* Corn futures are hovering about 10 percent above their five-year low of $3.18-1/4 reached on Oct. 1 after a rainy start to the month sparked the biggest corn rally in 1-1/2 years.
Basis values are quoted against CBOT futures in cts/bu: Chicago Corn processors -3 + Z +0 + Z DN 3 Corn elevators -30 + Z -30 + Z UNC Soybean elevators +0 + X +0 + X UNC Wheat elevators -15 + Z -15 + Z UNC Wheat processors +15 + Z +15 + Z UNC Decatur, IL corn -22 + Z -22 + Z UNC soybeans +5 + X +5 + X UNC Burns Harbor, IN corn -38 + Z -35 + Z DN 3 soy -15 + X -15 + X UNC Lafayette, IN soy -25 + X -25 + X UNC Toledo, OH (port) Corn -14 + Z -14 + Z UNC Soy -10 + X -9 + X DN 1 SRW wheat +14 + Z +14 + Z UNC Davenport, IA (river) Corn -40 + Z -40 + Z UNC Soy -22 + X -22 + X UNC Evansville, IN (rail) 15-car CSX corn -5 + Z -5 + Z UNC Cincinnati, OH (rail) 3-car corn -20 + Z -20 + Z UNC Hereford, TX corn +95 + Z +120 + Z DN 25 Columbus OH (rail) 3-car corn -10 + Z -10 + Z UNC Morris, IL (river) Corn -50 + Z -48 + Z DN 2 Soybeans -12 + X -12 + X UNC Fort Worth, TX corn +13 + Z +120 + Z UP 10 0 Blair, NE corn -10 + Z -5 + Z DN 5 Council Bluffs, IA (elevator) Corn -41 + Z -41 + Z UNC Soy -55 + X -55 + X UNC Des Moines, IA soy UNQ UNQ UNC Sioux City, IA soy -55 + X -55 + X UNC NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted, NC = Not comparable, DP = Delayed Price, X = November, Z = December ---------------------------------------------------------------- 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 Tom Polansek in Chicago, editing by G Crosse)
