U.S. Cash Grains-Corn bids firm in eastern Midwest; soy flat

Nov 18 (Reuters) - Spot cash basis bids for corn firmed at
processor and river terminals in the eastern U.S. Midwest on
Monday, reflecting a lack of farmer offerings, grain dealers
said.
    * Soybean basis bids were little changed after falling in
several locations on Friday.
    * Producers continued to store most of their freshly
harvested corn and hold out for higher prices, eyeing premiums
for deferred Chicago Board of Trade futures contracts.
    * Monday's plunge in most CBOT corn contracts to
life-of-contract lows added to their reluctance to sell.
    * One cash grain broker said of the projected record-large
	
U.S. corn harvest: "It's there, but you can't touch it." * An exception to the firm trend was Blair, Nebraska, where the corn basis fell by 5 cents. * After the close, the USDA said the U.S. corn harvest was 91 percent complete, up from 84 percent a week earlier and ahead of the five-year average of 86 percent. * USDA said the soybean harvest was 95 percent finished, up from 91 percent the previous week and near the five-year average of 96 percent. * USDA rated 63 percent of the U.S. winter wheat crop as good to excellent, down from 65 percent a week earlier. * At the CBOT, corn futures fell to a fresh three-year low on a proposal to lower the use of corn-based ethanol in the United States and news China rejected a cargo of U.S. corn which contained a genetically modified variety not approved for import. * CBOT soybeans rose on bargain buying after a selloff on Friday and on a big number for soybeans in the USDA's weekly export inspections report. * CBOT wheat turned down in sympathy with corn. Basis values are quoted against CBOT futures in cts/bu: Current Previous Bid Bid Chicago Corn processors +14 + Z +8 + Z UP 6
Corn elevators -5 + Z -5 + Z UNC Soybean elevators +5 + F +5 + F UNC Wheat elevators +0 + Z +0 + Z UNC Wheat processors -10 + Z -10 + Z UNC Decatur, IL corn +10 + Z +10 + Z UNC Decatur, IL soybeans +15 + F +15 + F UNC Burns Harbor, IN corn -24 + Z -24 + Z UNC Burns Harbor, IN soy -20 + F -20 + F UNC Lafayette, IN soy +7 + F +7 + F UNC Toledo, OH (port) Corn -17 + Z -20 + Z UP 3 Soy +15 + F +15 + F UNC SRW wheat -13 + Z -13 + Z UNC Davenport, IA (river) Corn +0 + Z -2 + Z UP 2 Soy +0 + F +0 + F UNC Evansville, IN (rail) 15-car CSX corn +3 + Z +3 + Z UNC Cincinnati, OH (rail) 3-car corn -5 + Z -5 + Z UNC Hereford, TX corn +95 + Z +95 + Z UNC Columbus, OH (rail) 3-car corn -5 + Z -5 + Z UNC Morris, IL (river) Corn -15 + Z -22 + Z UP 7 Soybeans +7 + F +7 + F UNC Fort Worth, TX corn +125 + Z +125 + Z UNC Blair, NE corn +0 + Z +5 + Z DN 5 Council Bluffs, IA (elevator) Corn -15 + Z -15 + Z UNC Soy -15 + F -12 + F DN 3 Des Moines, IA soy -30 + X -30 + X UNC Sioux City, IA soy -15 + F -15 + F 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 Julie Ingwersen, editing by G Crosse)

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