Jan 21 (Reuters) - Corn and soybean cash basis bids were
largely unchanged across the U.S. Midwest early on Tuesday as
snowfall and freezing temperatures slowed deliveries of the
crops to market while lower futures kept sales to a minimum,
grain merchants said.
* Soybean futures plunged about 2 percent at the
Chicago Board of Trade amid good growing conditions in South
America while corn futures edged lower.
* Few U.S. farmers were interested in selling their supplies
from storage at the lower prices. Snowfall in much of the region
cut off access to on-farm storage bins while blowing snows also
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led many growers to stay off the roads.
* A large spike in farmer sales amid more moderate weather
conditions and higher prices earlier this month left enough
supplies at many processors and ethanol plants. The sufficient
stockpiles capped potential gains in the basis bids despite the
slow pace of sales.
* Trade was resuming at many locations on Tuesday after a
three-day weekend in observance of the U.S. holiday Martin
Luther King Jr. Day on Monday.
* The U.S. Midwest heads back into the deep freeze this week
with temperatures falling a few degrees below zero Fahrenheit
(minus 18 Celsius) by Thursday, cold enough to threaten soft red
winter wheat in a few areas, an agricultural meteorologist said.
Basis values quoted against CBOT futures in cents/bushel:
CORN SOYBEANS
CINCINNATI OH -10 + H UNC +24 + H UNC
BURNS HARBOR IN -15 + H UNC -8 + H UNC
DECATUR IN -10 + H UNC
DES MOINES IA UNQ UNC
LINCOLN NE -18 + H UNC
PROCESSORS
CORN SOYBEANS
DECATUR IL +6 + H UNC +30 + H UNC
DECATUR IN +15 + H UNC
MORRISTOWN IN +25 + H UNC
LAFAYETTE IN +25 + H UNC
CEDAR RAPIDS IA +14 + H UNC -15 + H UNC
COUNCIL BLUFFS IA -10 + H UNC
LINCOLN NE -8 + H UNC
BLAIR NE -3 + H UNC
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -10 + H UNC +13 + H UNC
SENECA IL -13 + H UP 4 +25 + H UNC
SAVANNA IL -12 + H UNC +2 + H UNC
DAVENPORT IA -3 + H UNC -4 + H UNC
ETHANOL PLANTS
LINDEN IN -3 + H DN 1
UNION CITY IN +2 + H UP 2
ANNAWAN IL -7 + H UNC
COUNCIL BLUFFS IA -14 + H UNC
SRW WHEAT
TOLEDO OH -10 + H UNC
CINCINNATI OH -42 + H UNC
DECATUR IN -5 + H UNC
BURNS HARBOR IN -35 + H UNC
NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, 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 Stephen
Powell)
U.S. Cash Grains-Corn, soy bids flat on slow sales, deliveries
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