July 3 (Reuters) – Spot cash basis bids for corn were steady to mixed on Thursday in the U.S. Midwest in quiet trade ahead of the holiday weekend, dealer said.
* In western Iowa, a processor purchased corn from commercial elevators as farmers sales have slowed, a dealer said.
* Earlier this week dealers noted increased corn deliveries as producers started to meet July contract commitments.
* Some Mississippi River terminals rolled their corn bids to the CBOT September contract, from the July contract.
* A Soft Red Winter wheat bid rose by 13 cents per bushel to 5 cents over the Chicago Board of Trade September wheat futures price at an Indiana location.
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* The Indiana location will be open to receive wheat this weekend, but a dealer expected wheat deliveries to increase next week.
* A dealer in northern Ohio said producers may deliver wheat on Thursday before the holiday weekend. While in southern Ohio, a dealer said producers will likely spend some time over the weekend preparing for next week’s wheat harvest.
* Soy processor bids were steady to higher in quiet trade. Processors in Indiana, Illinois and Ohio raised their soy bids by 5 cents per bushel in an effort to entice farmers to market.
* The Chicago Board of Trade closes early, at noon CDT (1700 GMT) on Thursday. U.S. markets will be closed on July 4. CBOT trade resumes Monday, July 7 at 8:30 a.m. CDT (1330 GMT).
Basis values are quoted against CBOT futures in cts/bu:
CORN SOYBEANS
CINCINNATI OH +5 + Q UNC +95 + Q UP 5
BURNS HARBOR IN -12 + U DN 1 +45 + Q UNC
DECATUR IN -15 + U UNC
DES MOINES IA UNQ UNC
LINCOLN NE -10 + U UP 3
PROCESSORS
CORN SOYBEANS
DECATUR IL +20 + U UNC +95 + Q UP 5
DECATUR IN +100 + Q UP 5
MORRISTOWN IN +105 + Q UNC
LAFAYETTE IN +90 + Q UNC
CEDAR RAPIDS IA +18 + U UNC +80 + Q UNC
COUNCIL BLUFFS +70 + Q UNC
IA
LINCOLN NE +80 + Q UNC
BLAIR NE +0 + U UP 2
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -7 + U UNC +72 + Q UNC
SENECA IL +10 + U UNC +65 + Q UP 5
SAVANNA IL +1 + U NC +4 + N DN 2
DAVENPORT IA +8 + U NC +5 + N UNC
ETHANOL PLANTS
LINDEN IN +2 + U UNC
UNION CITY IN +0 + U UNC
ANNAWAN IL +10 + U UP 3
COUNCIL BLUFFS -12 + U DN 6
IA
SRW WHEAT
TOLEDO OH +0 + U UNC
CINCINNATI OH -5 + U UNC
DECATUR IN -5 + U UP 13
BURNS HARBOR IN -29 + U UNC
NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, N = July,
Q = August, U = September
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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 Meredith Davis in Chicago; Editing by Marguerita
Choy)
