Dec 11 (Reuters) - Corn and soybean cash basis bids were
steady to lower across the U.S. Midwest on Wednesday as some
grain buyers reduced their basis following increased farmer
sales in recent days, dealers said.
* There was little farmer or commercial selling of corn or
soybeans as Chicago Board of Trade futures for the crops posted
modest gains but stayed in their recent trading ranges, failing
to spur country movement.
* Reduced demand for soymeal amid surging futures for the
animal feed also weighed on the soy basis at some processing
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* Soy bids declined by five cents per bushel at a closely
monitored crush plant in Decatur, Illinois, while corn bids had
a weak tone at eastern Midwest rail terminals.
* Many growers are stowing away a majority of this year's
harvest in the hopes of selling next year at higher prices. But
grain merchants are unwilling to boost bids beyond already
historically high levels for this time of year, confident the
growers eventually will have to sell what was a record-large
corn harvest and one of the largest soy crops ever.
Basis values are quoted against CBOT futures in cts/bu:
Current Previous
Bid Bid
Chicago, Illinois
Corn processors +5 + H +5 + H UNC
Corn elevators -5 + H -5 + H UNC
Soybean elevators +5 + F +5 + F UNC
Wheat elevators -5 + H -5 + H UNC
Wheat processors -10 + H -10 + H UNC
Decatur IL corn +0 + H +0 + H UNC
Decatur IL soybeans +15 + F +20 + F DN 5
Burns Harbor IN corn -25 + H -25 + H UNC
Burns Harbor IN soy -20 + F -20 + F UNC
Lafayette IN soy +5 + F +5 + F UNC
Toledo OH (port)
Corn -15 + H -17 + H UP 2
Soy +5 + F +5 + F UNC
SRW wheat -14 + H -14 + H UNC
Davenport IA (river)
Corn -4 + H -4 + H UNC
Soy -11 + H -11 + H UNC
Evansville IN (rail)
15-car CSX corn +5 + H +8 + H DN 3
Cincinnati OH (rail)
3-car corn -3 + H -1 + H DN 2
Hereford TX corn +94 + H +94 + H UNC
Columbus OH (rail)
3-car corn -3 + H -1 + H DN 2
Morris IL (river)
Corn -15 + H -15 + H UNC
Soybeans +11 + F +14 + F DN 3
Fort Worth TX corn +122 + H +122 + H UNC
Blair NE corn +4 + H +4 + H UNC
Council Bluffs, IA (elevator)
Corn -5 + H -5 + H UNC
Soy -27 + F -23 + F DN 4
Des Moines IA soy UNQ UNQ UNC
Sioux City IA soy -30 + F -30 + F UNC
NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, Z = December,
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 Richard
Chang and Diane Craft)
U.S. Cash Grains-Corn, soy bids weak as demand ebbs; sales light
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