Dec 19 (Reuters) - Corn cash basis bids were mostly steady
to higher at U.S. Midwest elevators and rail terminals on
Thursday, lifted by the ongoing slow pace of fresh sales by
farmers, dealers said.
* With Chicago Board of Trade corn futures moving in a
narrow range for more than a month, many growers are delaying
sales in the hopes of higher prices during the new tax year of
2014.
* Farmer sales of soybeans were also very light but some
processors and elevators reduced bids due to a slightly slower
pace of soymeal purchases.
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* The cash market overall was seasonally quiet, with many
grain merchants focused only on the logistics of taking in
existing contracts and fulfilling their own orders to ship grain
or the products they process.
* Barge freight costs were steady on Midwest rivers.
* U.S. exporters continue to load corn shipments to China
despite uncertainty over whether cargoes could be rejected
because of an unapproved genetically modified strain, although
volumes have declined recently, government data showed.
Basis values are quoted against CBOT futures in cts/bu:
Current Previous
Bid Bid
Chicago
Corn processors -3 + H +0 + H DN 3
Corn elevators -5 + H -5 + H UNC
Soybean elevators +5 + F +5 + F UNC
Wheat elevators -5 + H -5 + H UNC
Wheat processors +0 + H -10 + H UP 10
Decatur, IL corn +0 + H +0 + H UNC
Decatur, IL +15 + F +15 + F UNC
soybeans
Burns Harbor, IN -20 + H -25 + H UP 5
corn
soy -20 + F -20 + F UNC
Lafayette, IN soy +5 + F +5 + F UNC
Toledo, OH (port)
Corn -14 + H -14 + H UNC
Soy +0 + F +0 + F UNC
SRW wheat -10 + H -10 + H UNC
Davenport, IA
(river)
Corn -4 + H -4 + H UNC
Soy -8 + H -11 + H UP 3
Evansville, IN
(rail)
15-car CSX corn +9 + H +0 + H UP 9
Cincinnati (rail)
3-car corn -2 + H -3 + H UP 1
Hereford TX corn +97 + H +94 + H UP 3
Columbus OH (rail)
3-car corn -2 + H -3 + H UP 1
Morris, IL (river)
Corn -17 + H -17 + H UNC
Soybeans +6 + F +8 + F DN 2
Fort Worth, TX corn +100 + H +120 + H DN 20
Blair, NE corn +2 + H +2 + H UNC
Council Bluffs, IA (elevator)
Corn -10 + H -10 + H UNC
Soy -35 + F -33 + F DN 2
Des Moines, IA soy UNQ UNQ UNC
Sioux City, IA soy -33 + F -33 + F UNC
NOTE: 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)
U.S. Cash Grains-Corn bids firm on light offerings; soy weak
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