Your Reading List

U.S. Cash Grains-Corn firm on river, soy mixed

Nov 19 (Reuters) - Corn spot basis bids were firm at U.S.
Midwest river terminals early on Tuesday, bolstered by lower
barge freight rates and a drop in futures to fresh three-year
lows that made the grain more competitive in global export
markets, dealers said.
    * Soybean bids also firmed along the Illinois River, while
the soy basis gained at Iowa processors but eased at an elevator
in northern Ohio.
    * Farmer sales of each commodity were very light, with the
harvest nearly done and the slow sales pace providing additional
support to the corn and soybean basis. 
	
* But corn bids eased 5 cents per bushel at a large processor and ethanol plant in Blair, Nebraska. Some grain merchants reported a modest spike in corn sales in the wake of the Environmental Protection Agency's proposal last week to reduce the ethanol mandate for the first time since the law's inception in 2007. * Still, strong ethanol margins have many makers of the biofuel eager to continue buying corn and producing the grain-based fuel additive. * Dry weather into midweek will allow a rapid windup of corn and soybean harvesting in most areas of the Midwest, followed by widespread rainfall later in the week, an agricultural meteorologist said. Basis values are quoted against CBOT futures in cts/bu: CORN SOYBEANS CINCINNATI OH -15 + Z UNC -22 + F UNC BURNS HARBOR IN -24 + Z UNC -20 + F UNC DECATUR IN -20 + Z UP 5 DES MOINES IA -30 + F DN 10 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 UP 8 COUNCIL BLUFFS IA -5 + F UNC LINCOLN NE +0 + F UNC BLAIR NE +0 + Z DN 5 RIVER TERMINALS CORN SOYBEANS
TOLEDO OH -20 + Z UP 4 +10 + F DN 5 SENECA IL -15 + Z UP 7 +7 + F UNC SAVANNA IL -9 + Z UNC +4 + F UP 4 DAVENPORT IA +0 + Z UP 2 +0 + F UNC ETHANOL PLANTS LINDEN IN -10 + Z UNC UNION CITY IN -15 + Z UNC ANNAWAN IL +4 + Z UNC COUNCIL BLUFFS IA -8 + 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 John Wallace)

About the author

Comments

explore

Stories from our other publications