U.S. Cash Grains-Corn, soy bids flat as farmers delay sales

Dec 13 (Reuters) - Corn and soybean spot basis bids were
largely unchanged across the U.S. Midwest on Friday as many
farmers remained entrenched on the sidelines with corn futures
falling sharply and soybeans spending much of the session in
negative territory.
    * Many growers are delaying the bulk of their sales until
the new tax year of 2014 while truck deliveries of the crops to
satisfy existing contracts have also slowed amid bitter cold and
snowy conditions in much of the region.
    * Soybean bids declined earlier this week as buyers at
	
processors and elevators were unwilling to extend ownership in an inverted futures market that promised lower bean prices in the coming weeks and months. * Corn futures were little changed for the week. Bids edged lower at some ethanol plants following a downturn in profit margins for makers of the biofuel. But support from a slow pace of farmer sales was largely offset by pressure from a record-large harvest. * Freight costs for hauling grain by barge from the central U.S. Midwest to Gulf Coast export terminals spiked to three-week highs this week as low water and icy river conditions amid a pre-winter cold snap hindered shipping, trade sources said. * U.S. corn futures fell 2 percent, their biggest single-day drop in nearly a month, on concerns about U.S. sales to China, a proposal to eliminate the U.S. ethanol mandate and the big global stockpile of the feed grain. Basis values are quoted against CBOT futures in cts/bu: Current Previous Bid Bid Chicago, Illinois Corn processors +5 + H +5 + H UNC Corn elevators -5 + H -5 + H UNC Soybean elevators +5 + F +5 + F UNC Wheat elevators -5 + H -5 + H UNC Wheat processors -10 + H -10 + H UNC
Decatur IL corn +0 + H +0 + H UNC Decatur IL soybeans +15 + F +15 + F UNC Burns Harbor IN -25 + H -25 + H UNC corn Burns Harbor IN soy -20 + F -20 + F UNC Lafayette IN soy +5 + F +5 + F UNC Toledo OH (port) Corn -14 + H -15 + H UP 1 Soy +5 + F +5 + F UNC SRW wheat -10 + H -10 + H UNC Davenport IA (river) Corn -4 + H -4 + H UNC Soy -11 + H -11 + H UNC Evansville IN (rail) 15-car CSX corn +4 + H +4 + H UNC Cincinnati OH (rail) 3-car corn -3 + H -3 + H UNC Hereford TX corn +94 + H +94 + H UNC Columbus OH (rail) 3-car corn -3 + H -3 + H UNC Morris IL (river) Corn -16 + H -15 + H DN 1 Soybeans +7 + F +7 + F UNC Fort Worth TX corn +120 + H +122 + H DN 2 Blair NE corn +4 + H +4 + H UNC Council Bluffs, IA (elevator) Corn -8 + H -8 + H UNC Soy -27 + F -27 + F UNC Des Moines IA soy UNQ UNQ UNC Sioux City IA soy -30 + F -30 + F UNC NOTE: 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 Andrew)

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