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

Dec 16 (Reuters) - Spot basis bids for corn and soybeans
were largely unchanged across the U.S. Midwest early on Monday
as mostly flat activity in the futures market failed to spur
significant sales of the commodities, grain merchants said.
    * Corn futures edged lower while soybeans posted
only modest gains in a bargain-buying bounce. But prices for
each crop remain in their narrow trading ranges from recent
weeks, keeping any selling interest to a minimum.    
    * Many farmers also delayed deliveries to meet existing
contracts amid bitter cold and snow that cut off access to some
on-farm grain storage bins. * The growers were likely to delay sales until 2014 both for tax purposes and the hopes of higher prices in the new year. * Soybean bids eased 5 cents per bushel to the lowest level in more than two weeks in Toledo, Ohio. Farmers increased sales of soybeans earlier this month, which has weighed on bids in some locations in recent days. * Corn bids gained 3 cents at a western Illinois ethanol plant and were little changed elsewhere. Basis values quoted against CBOT futures in cents/bushel: CORN SOYBEANS CINCINNATI OH -14 + H UNC -5 + F UNC BURNS HARBOR IN -25 + H UNC -20 + F UNC DECATUR IN -20 + H UNC DES MOINES IA UNQ UNC LINCOLN NE -15 + H UNC PROCESSORS CORN SOYBEANS DECATUR IL +0 + H UNC +15 + F UNC DECATUR IN -9 + F UNC MORRISTOWN IN -2 + F UNC LAFAYETTE IN +5 + F UNC CEDAR RAPIDS IA +17 + H UNC -22 + F UNC COUNCIL BLUFFS IA -23 + F UNC LINCOLN NE -20 + F UNC BLAIR NE +4 + H UNC RIVER TERMINALS CORN SOYBEANS TOLEDO OH -14 + H UP 1 +5 + F DN 5 SENECA IL -16 + H DN 1 +7 + F UNC SAVANNA IL -15 + H UNC +5 + H UNC DAVENPORT IA -4 + H UNC -11 + H UNC
ETHANOL PLANTS LINDEN IN -10 + H UNC UNION CITY IN -2 + H UNC ANNAWAN IL -2 + H UP 3 COUNCIL BLUFFS IA -8 + H UNC SRW WHEAT TOLEDO OH -20 + H UNC CINCINNATI OH -42 + H UNC DECATUR IN -20 + H UNC BURNS HARBOR IN -47 + H UNC NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted, NC = Not comparable, DP = Delayed Price, 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 Maureen Bavdek)

About the author



Stories from our other publications