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