Nov 14 (Reuters) - Corn and soybean cash basis bids were
steady to narrowly mixed around the U.S. Midwest on Thursday as
seasonal harvest pressure was offset by good demand and the slow
pace of new sales, grain merchants said.
* Corn bids jumped 20 cents per bushel in the railcar market
in Fort Worth, Texas, where a user was said to need immediate
coverage of the grain. Corn bids also rose modestly at an
elevator in northern Ohio, while bids eased slightly at a
terminal along the Illinois River.
* Soybean bids eased at a large processor in Decatur,
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Illinois, and firmed at an elevator in Council Bluffs, Iowa.
* Farmers were active sellers of soybeans on Tuesday and
Wednesday and big sellers of corn on Monday and Friday before
the sales slowed as futures drifted lower on Thursday.
* The harvest is nearly complete and many growers are
utilizing on-farm or commercial storage to stow away most of
their supplies in the hope of selling later at higher prices.
* Corn futures sagged on technical selling and concerns the
U.S. government might soon lower its requirement on the amount
of corn-based ethanol blended into fuel for 2014, traders said.
Basis values are quoted against CBOT futures in cts/bu:
Current Previous
Bid Bid
Chicago, Illinois
Corn processors +8 + Z +8 + Z UNC
Corn elevators -5 + Z -5 + Z UNC
Soybean elevators +5 + F +5 + F UNC
Wheat elevators +0 + Z +0 + Z UNC
Wheat processors -10 + Z -10 + Z UNC
Decatur IL corn +10 + Z +10 + Z UNC
Decatur IL +17 + F +20 + F DN 3
soybeans
Burns Harbor IN -24 + Z -24 + Z UNC
corn
Burns Harbor IN -6 + F -6 + F UNC
soy
Lafayette IN soy +7 + F +7 + F UNC
Toledo OH (port)
Corn -20 + Z -22 + Z UP 2
Soy +15 + F +15 + F UNC
SRW wheat -13 + Z -13 + Z UNC
Davenport IA
(river)
Corn +0 + Z +1 + Z DN 1
Soy +2 + F +1 + F UP 1
Evansville IN
(rail)
15-car CSX corn +3 + Z +3 + Z UNC
Cincinnati OH
(rail)
3-car corn -5 + Z -5 + Z UNC
Hereford TX corn +95 + Z +95 + Z UNC
Columbus OH
(rail)
3-car corn -5 + Z -5 + Z UNC
Morris IL (river)
Corn -22 + Z -21 + Z DN 1
Soybeans +5 + F +5 + F UNC
Fort Worth TX +140 + Z +120 + Z UP 20
corn
Blair NE corn +5 + Z +5 + Z UNC
Council Bluffs, IA (elevator)
Corn -15 + Z -10 + Z DN 5
Soy -12 + F -15 + F UP 3
Des Moines IA soy -20 + X -20 + X UNC
Sioux City IA soy -15 + F -15 + F UNC
NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, X = November,
Z = December
---------------------------------------------------------------
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 Andre
Grenon)
U.S. Cash Grains-Corn, soy bids hold on slow farmer sales
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