May 19 (Reuters) – Corn spot basis bids were steady at elevators and processors in the U.S. Midwest early on Monday in quiet trade as farmers waited for drier field conditions, grain merchants said.
* Wet fields in the Eastern Corn Belt kept most farmers from resuming planting activity over the weekend, farmers said.
* Some farmers priced new crop corn and booked January 2015 contracts in western Indiana, a grain merchant said.
* Corn planting was largely completed in Iowa, and some farmers began to plant soybeans, a grain merchant in the western part of the state said. But some corn may need to be replanted due to frost damage, the dealer said.
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* Soybean bids were steady to slightly higher at processors and elevators around the region, while spot wheat bids held steady, dealers said.
* Rain and thunderstorms were forecast for portions of the Western Corn Belt and northern U.S. Plains on Monday, according to the National Weather Service.
* The USDA is scheduled to release its weekly planting progress and conditions on Monday at 3:00 CDT (1800 GMT).
Basis values are quoted against CBOT futures in cts/bu:
CORN SOYBEANS
CINCINNATI OH -10 + N UNC +40 + N UNC
BURNS HARBOR IN -15 + N UNC +30 + N UP 8
DECATUR IN -20 + N UNC
DES MOINES IA UNQ UNC
LINCOLN NE -19 + N UNC
PROCESSORS
CORN SOYBEANS
DECATUR IL +14 + N UNC +45 + N UP 5
DECATUR IN +65 + N UNC
MORRISTOWN IN +55 + N UNC
LAFAYETTE IN +55 + N UNC
CEDAR RAPIDS IA +10 + N UNC +17 + N UNC
COUNCIL BLUFFS IA +20 + N UNC
LINCOLN NE +5 + N UNC
BLAIR NE -8 + N UNC
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -19 + N UNC +30 + N UNC
SENECA IL +0 + N DN 1 +12 + N UNC
SAVANNA IL -5 + N UNC +10 + N DN 2
DAVENPORT IA +0 + N UP 1 +13 + N UP 3
ETHANOL PLANTS
LINDEN IN -5 + N DN 2
UNION CITY IN +0 + N UNC
ANNAWAN IL +0 + N UP 1
COUNCIL BLUFFS IA -12 + N UNC
SRW WHEAT
TOLEDO OH -8 + N UNC
CINCINNATI OH -10 + N UNC
DECATUR IN -15 + N UNC
BURNS HARBOR IN -20 + N UNC
NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, 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 Tom Brown)
