U.S. Cash Grains-Corn, soy bids flat on slow sales, deliveries

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
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)

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