Nov 13 (Reuters) - Corn cash basis bids were steady to
higher around the U.S. Midwest early on Wednesday, while soybean
bids rose at processing plants in Illinois and Nebraska as the
harvest of each crop neared completion and farmers sold only
small amounts, dealers said.
* U.S. Agriculture Department data late on Tuesday showed
the corn harvest at 84 percent complete and the soybean harvest
91 percent done, with each roughly in line with the five-year
average pace.
* Growers increased sales of corn during the last several
days as futures rose sharply. Sales of soybeans also increased
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but to a lesser extent than those of corn, the dealers said.
* Many producers were using on-farm storage or
delayed-pricing at commercial grain handlers in the hopes of
selling later at higher prices. Meanwhile, good margins and
strong demand supported basis bids despite seasonally large
stockpiles of the commodities.
* Corn bids were higher at a large Iowa processor, along
Midwest rivers and at an ethanol plant in western Illinois.
* Soy bids jumped to the highest level in more than a month
at a closely watched processor in Decatur, Illinois.
* But the soy basis weakened at processors in Iowa, while
bids were mixed along Midwest rivers as a spike in barge freight
weighed on demand at some terminals along the waterways.
Basis values are quoted against CBOT futures in cts/bu:
CORN SOYBEANS
CINCINNATI OH -15 + Z UNC +0 + F UNC
BURNS HARBOR IN -27 + Z UNC -6 + F UNC
DECATUR IN -25 + Z UNC
DES MOINES IA -15 + F DN 10
LINCOLN NE -8 + Z DN 3
PROCESSORS
CORN SOYBEANS
DECATUR IL +10 + Z UNC +20 + F UP 5
DECATUR IN +3 + F UNC
MORRISTOWN IN +5 + F UNC
LAFAYETTE IN +7 + F UNC
CEDAR RAPIDS +23 + Z UP 5 -5 + F DN 8
COUNCIL BLUFFS -5 + F UNC
LINCOLN NE +0 + F UP 10
BLAIR NE +5 + Z UNC
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -24 + Z UNC +20 + F DN 4
SENECA IL -22 + Z UP 3 +5 + F UP 8
SAVANNA IL -9 + Z UP 2 +2 + F DN 3
DAVENPORT IA -6 + Z UNC +0 + F DN 7
ETHANOL PLANTS
LINDEN IN -15 + Z UNC
UNION CITY IN -15 + Z UNC
ANNAWAN IL +3 + Z UP 6
COUNCIL BLUFFS IA -10 + Z UNC
SRW WHEAT
TOLEDO -30 + Z UNC
CINCINNATI -30 + Z UNC
DECATUR IN -10 + Z UNC
BURNS HARBOR -35 + Z UNC
NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, Z = December,
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 Lisa Von
Ahn)
U.S. Cash Grains-Corn bids firm, soy mixed as harvest nears end
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