Oct 10 (Reuters) – Spot basis bids for corn and soybeans around the U.S. Midwest were mixed early on Friday in quiet trade ahead of a monthly government crop report due for release at midmorning.
* Rainy weather in the southern Corn Belt halted harvesting of corn and soybeans and slowed deliveries to elevators and processors.
* Lower futures prices limited farmer selling interest, prompting some grain merchants to firm their basis bids. Corn and soybean futures on the Chicago Board of Trade declined more than 1 percent on Friday following modest gains a day earlier.
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* U.S. Department of Agriculture’s October crop supply/demand and crop production reports are scheduled to be released at noon EDT (1600 GMT).
Basis values are quoted against CBOT futures in cts/bu:
CORN SOYBEANS
CINCINNATI OH -55 + Z UNC -30 + X UP 5
BURNS HARBOR IN -35 + Z UNC -15 + X UNC
DECATUR IN -40 + Z UNC
DES MOINES IA UNQ UNC
LINCOLN NE -33 + Z UNC
PROCESSORS
CORN SOYBEANS
DECATUR IL -20 + Z UNC +0 + X UNC
DECATUR IN -28 + X UNC
MORRISTOWN IN -32 + X UNC
LAFAYETTE IN -25 + X UP 12
CEDAR RAPIDS IA -20 + Z UNC -35 + X UNC
COUNCIL BLUFFS IA -48 + X UNC
LINCOLN NE -40 + X UNC
BLAIR NE -10 + Z UNC
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -14 + Z UNC -14 + X DN 5
SENECA IL -45 + Z UP 10 -12 + X DN 2
SAVANNA IL -41 + Z UNC -25 + X UP 5
DAVENPORT IA -40 + Z UNC -16 + X UP 14
ETHANOL PLANTS
LINDEN IN -10 + Z UNC
UNION CITY IN -23 + Z UNC
ANNAWAN IL -20 + Z UP 1
COUNCIL BLUFFS IA -45 + Z DN 3
SRW WHEAT
TOLEDO OH +0 + Z UNC
CINCINNATI OH UNQ Z UNC
DECATUR IN -15 + Z UNC
BURNS HARBOR IN -30 + Z UNC
NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, X = November,
Z = December
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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 Karl Plume in Chicago; Editing by Meredith
Mazzilli)
