April 25 (Reuters) - Corn spot basis bids held mostly steady
at processors and elevators around the U.S. Midwest on Friday as
rainy conditions stalled planting in the Eastern Corn Belt,
grain merchants said.
* "These weather conditions certainly are not ideal," a
Chicago-based grain trader said.
* Corn basis bids firmed by 1 cent per bushel at an terminal
on the Illinois River and by 2 cents per bushel at an elevator
in Council Bluffs, Iowa.
* U.S. corn futures rose on Friday on concerns that storms
forecast across the Midwest and colder-than-normal temperatures
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will cause further delays to planting, traders said.
* Grain merchants noted light farmer sales of corn early on
Friday as CBOT corn futures firmed but trade was largely quiet
in the later in the day, dealers said.
* Soybean basis bids firmed by 6 cents per bushel at a
Chicago elevator and by 3 cents per bushel at a Council Bluffs,
Iowa elevator, but held mostly steady at other elevators and
processors around the region.
* U.S. soybean futures rose on Friday as investors rebuilt
bull spreads due to tight U.S. supplies, traders said.
* Farmers held off on selling the remainder of old-crop
supplies even as CBOT soybeans rallied, dealers said.
Basis values are quoted against CBOT futures in cts/bu:
Current Previous
Bid Bid
Chicago, Illinois
Corn processors +4 + K +4 + K UNC
Corn elevators +2 + K +2 + K UNC
Soybean elevators +10 + K +4 + K UP 6
Wheat elevators +0 + K +0 + K UNC
Wheat processors +15 + K +15 + K UNC
Decatur IL corn +12 + K +12 + K UNC
Decatur IL soybeans +30 + K +30 + K UNC
Burns Harbor IN corn -16 + K -16 + K UNC
Burns Harbor IN soy +10 + K +10 + K UNC
Lafayette IN soy +40 + K +40 + K UNC
Toledo OH (port)
Corn -17 + K -17 + K UNC
Soy +20 + K +20 + K UNC
SRW wheat -8 + N -8 + N UNC
Davenport IA (river)
Corn +0 + K +0 + K UNC
Soy -9 + K -9 + K UNC
Evansville IN (rail)
15-car CSX corn +0 + K +0 + K UNC
Cincinnati OH (rail)
3-car corn -10 + K -10 + K UNC
Hereford TX corn +82 + K +82 + K UNC
Columbus OH (rail)
3-car corn -12 + K -12 + K UNC
Morris IL (river)
Corn +3 + K +2 + K UP 1
Soybeans +2 + K +2 + K UNC
Fort Worth TX corn +95 + K +95 + K UNC
Blair NE corn -5 + K -5 + K UNC
Council Bluffs, IA (elevator)
Corn -8 + K -10 + K UP 2
Soy +0 + K -3 + K UP 3
Des Moines IA soy UNQ UNQ UNC
Sioux City IA soy -18 + K -18 + K UNC
NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, K = May, N = July
----------------------------------------------------------------
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 Meredith Davis in Chicago; Editing by David
Gregorio)
U.S. Cash Grains-Corn, soy bids mostly steady; rains delay planting
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