April 30 (Reuters) – Spot basis bids for corn and soybeans were mostly steady at processors and elevators around the U.S. Midwest early on Wednesday in quiet trading as lower Chicago Board of Trade futures pressured cash prices, dealers said.
* Farmers were not interested in booking old-crop sales with lower CBOT corn and soybean prices early on Wednesday, grain merchants said.
* While sales stalled, dealers also noted steady deliveries of previously contracted grain.
* Wet and rainy conditions around the region continued to keep farmers from out of fields, dealers said.
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* Planting will likely be delayed as weather forecasts show rain showers through the end of the week, dealers said.
* Several dealers rolled basis bids to the Chicago Board of Trade July contract, from the May contract.
* A corn bids rose by 1 cent per bushel at a Council Bluffs, Iowa processor.
Basis values are quoted against CBOT futures in cts/bu:
CORN SOYBEANS
CINCINNATI OH -6 + K UNC +25 + K UNC
BURNS HARBOR IN -16 + K UNC +10 + K UNC
DECATUR IN -30 + N NC
DES MOINES IA UNQ UNC
LINCOLN NE -17 + K UNC
PROCESSORS
CORN SOYBEANS
DECATUR IL +16 + K UNC +35 + N UNC
DECATUR IN +55 + N NC
MORRISTOWN IN +45 + K UNC
LAFAYETTE IN +40 + K UNC
CEDAR RAPIDS IA +1 + N NC +0 + K UNC
COUNCIL BLUFFS IA +7 + N NC
LINCOLN NE +3 + N UNC
BLAIR NE -5 + K UNC
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -23 + N NC +27 + N NC
SENECA IL +3 + K UNC +2 + K UNC
SAVANNA IL -4 + K UNC -8 + K UNC
DAVENPORT IA +1 + K UP 1 -4 + K UP 4
ETHANOL PLANTS
LINDEN IN -3 + K UNC
UNION CITY IN -8 + N NC
ANNAWAN IL -2 + N UNC
COUNCIL BLUFFS IA -14 + N UP 1
SRW WHEAT
TOLEDO OH -8 + N UNC
CINCINNATI OH -25 + N UNC
DECATUR IN -15 + N NC
BURNS HARBOR IN -25 + N UNC
NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, K = May, N = July
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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 Bernadette
Baum)
