U.S. Cash Grains-Corn bids jump on demand, lower barge freight

Nov 20 (Reuters) - Corn cash basis bids were firm at U.S.
Midwest river terminals and ethanol plants early on Wednesday,
lifted by lower futures, a slow pace of farmer sales and a
downturn in shipping costs on the region's waterways, grain
merchants said.
    * The corn basis gained 9 to 10 cents per bushel in the
river market amid strong export demand on the U.S. Gulf Coast
and lower barge freight on Midwest rivers that allowed shippers
to pay more for the grain.
    * The corn and soybean harvest is nearly complete and
growers are storing a majority of their corn supplies in on-farm grain bins or at commercial elevators in the hopes of selling later this year or next year at higher prices. * Chicago Board of Trade corn futures were hovering near their recent three-year lows on pressure from a record U.S. harvest, keeping any selling interest from farmers at a minimum. * Soybean spot basis bids were steady to lower after a spike in sales last week helped satisfy near-term demand. Inverted soybean futures continued to encourage immediate sales of the beans while the carry in corn futures encouraged the storage of the yellow grain. * Soft red winter wheat bids remained unchanged in the wake of an announcement that top global wheat importer Egypt purchased 110,000 tonnes of U.S. supplies. Basis values are quoted against CBOT futures in cts/bu: CORN SOYBEANS CINCINNATI OH -5 + Z UP 10 -22 + F UNC BURNS HARBOR IN -24 + Z UNC -20 + F UNC DECATUR IN -20 + Z UNC DES MOINES IA -30 + F UNC LINCOLN NE -8 + Z UNC PROCESSORS CORN SOYBEANS DECATUR IL +10 + Z UNC +15 + F UNC DECATUR IN +3 + F UNC MORRISTOWN IN +0 + F UNC LAFAYETTE IN +7 + F UNC
CEDAR RAPIDS +23 + Z UNC -7 + F UNC COUNCIL BLUFFS IA -8 + F DN 3 LINCOLN NE +0 + F UNC BLAIR NE +0 + Z UNC RIVER TERMINALS CORN SOYBEANS TOLEDO OH -20 + Z UNC +10 + F UNC SENECA IL -5 + Z UP 10 +7 + F UNC SAVANNA IL +0 + Z UP 9 -6 + F DN 10 DAVENPORT IA +0 + Z UNC -2 + F DN 2 ETHANOL PLANTS LINDEN IN -5 + Z UP 5 UNION CITY IN -15 + Z UNC ANNAWAN IL +4 + Z UNC COUNCIL BLUFFS IA -10 + Z DN 2 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 Chris Reese)

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