Nov 19 (Reuters) - Spot cash basis bids for corn and
soybeans held mostly steady on Tuesday in the U.S. Midwest
interior and farmer sales remained light, dealers said.
* Producers remain reluctant to sell much of their
record-large corn harvest, but the threat of a drop in Chicago
Board of Trade corn futures below $4 a bushel has some
considering fresh sales, an Ohio merchandiser said.
* Barge freight values have fallen sharply on Midwest
rivers, led by values on the Ohio River. The U.S. Army Corps of
Engineers lowered the dam at lock 52, near the Ohio's confluence
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with the Mississippi River, where repair work caused vessel
backups of up to three days. Lowering the dam opened the river
there and allowed vessels to pass without locking.
* Barges for this week on the Mississippi at St. Louis
traded at 550 percent of tariff, down from 650 percent a day
earlier.
* River grain bids were mixed. The corn basis at Morris,
Illinois, firmed by 10 cents while the soybean basis was
unchanged. The soy basis fell 2 cents at Davenport, Iowa, on the
Mississippi, but the Davenport corn basis was steady.
* Dry weather into midweek will allow a rapid windup of corn
and soybean harvesting in most areas of the Midwest, followed by
widespread rainfall later in the week, MDA Weather Services
said. The northwest Midwest could see some snow by Friday, and
it will turn much colder by the weekend.
* USDA reported U.S. corn harvest progress at 91 percent
complete and soybean harvest at 95 percent complete by Sunday.
* At the Chicago Board of Trade, corn futures rose on
bargain buying and short-covering following the market's fall to
a three-year low. CBOT wheat posted its biggest gain in a month.
Soybeans fell on technical selling and favorable South American
crop prospects.
Basis values are quoted against CBOT futures in cts/bu:
Current Previous
Bid Bid
Chicago, Illinois
Corn processors +14 + Z +14 + 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 soybeans +15 + F +15 + F UNC
Burns Harbor IN corn -24 + Z -24 + Z UNC
Burns Harbor IN soy -20 + F -20 + F UNC
Lafayette IN soy +7 + F +7 + F UNC
Toledo OH (port)
Corn -17 + Z -17 + Z UNC
Soy +15 + F +15 + F UNC
SRW wheat -13 + Z -13 + Z UNC
Davenport IA (river)
Corn +0 + Z +0 + Z UNC
Soy -2 + F +0 + F DN 2
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 -5 + Z -15 + Z UP 10
Soybeans +7 + F +7 + F UNC
Fort Worth TX corn +125 + Z +125 + Z UNC
Blair NE corn +0 + Z +0 + Z UNC
Council Bluffs, IA (elevator)
Corn -15 + Z -15 + Z UNC
Soy -13 + F -15 + F UP 2
Des Moines IA soy -30 + X -30 + 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 Julie Ingwersen; Editing by Bob Burgdorfer)
U.S. Cash Grains-Corn, soy bids mostly flat; barge freight falls
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