Nov 11 (Reuters) - Corn spot basis bids were steady to lower
across the U.S. Midwest early on Monday after farmers increased
sales amid rising futures at the Chicago Board of Trade, dealers
said.
* There was only light selling interest to start the week
but farmers were big sellers on Friday after a U.S. Agriculture
Department report estimating increased demand for the yellow
grain sent futures soaring.
* Corn futures were up more than 1 percent in early
activity, heading for their biggest two-day gains since August.
Still, prices are hovering right above a three-year low,
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* The corn basis eased 6 cents per bushel at an ethanol
plant in Council Bluffs, Iowa, and fell 2 cents late on Friday
at a closely monitored processor in Decatur, Illinois.
* Bids for corn and soybeans were firm in Toledo, Ohio,
while the soybean basis was largely steady elsewhere in the
Midwest as a modest bump in sales was offset by good demand from
crushers and exporters.
* Farmers are expected to resume the harvest this week,
finishing up cuttings of both corn and beans under generally dry
weather early this week, a meteorologist said.
* USDA will not release export inspections of crop progress
reports until Tuesday as the government is closed in observance
of Veterans Day.
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 -5 + F UNC
LINCOLN NE -5 + Z UNC
PROCESSORS
CORN SOYBEANS
DECATUR IL +10 + Z DN 2 +15 + F UNC
DECATUR IN +3 + F UNC
MORRISTOWN IN +5 + F UNC
LAFAYETTE IN +7 + F UNC
CEDAR RAPIDS +18 + Z UNC +5 + F UNC
COUNCIL BLUFFS -8 + F UNC
LINCOLN NE -10 + F UP 5
BLAIR NE +5 + Z UNC
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -24 + Z UP 2 +24 + F UP 3
SENECA IL -13 + Z DN 1 +0 + F DN 7
SAVANNA IL -11 + Z UNC +6 + X UNC
DAVENPORT IA -6 + Z DN 2 +7 + F UP 1
ETHANOL PLANTS
LINDEN IN -15 + Z UNC
UNION CITY IN -15 + Z UNC
ANNAWAN IL -3 + Z DN 3
COUNCIL BLUFFS IA -8 + Z DN 6
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, X = November,
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 Theodore
d'Afflisio)
U.S. Cash Grains-Corn bids steady to lower as futures rise
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