U.S. Cash Grains-Corn, soybean bids mixed ahead of USDA report

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Published: October 10, 2014

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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 --------------------------------------------------------------- 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)

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