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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plants while ethanol profit margins eased from near-record
highs.
    * 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
	

		

			
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 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
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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)