Dec 23 (Reuters) - Corn spot basis bids were steady to
higher across the U.S. Midwest on Monday supported by few farmer
sales despite Chicago futures trading at their highest in about
1-1/2 months, grain merchants said.
* Corn bids gained 2 cents a large processor in Decatur,
Illinois, where the basis was a premium to futures for the first
time since early December. Two large Iowa processors, in Cedar
Rapids and Eddyville, were also said to be in need of corn this
week, the dealers said.
* Chicago Board of Trade corn futures climbed for the
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three-year low.
* Many growers delayed sales in the hopes of selling at
higher prices next year and to defer taxable income until the
new year. Bitter cold weather also led to reduced deliveries of
the grain to meet existing deals, with the farmers reluctant to
haul truckloads of the grain to market.
* Soybean spot basis bids were largely unchanged with many
processors and exporters said to have purchased enough supplies
through the first half of January.
* Several elevators were expected to be closed for grain
deliveries on Tuesday and on Wednesday in observance of the
Christmas holiday.
* Barge freight costs were unchanged in Midwest rivers in
slow movement on the waterways ahead of Wednesday's holiday.
Basis values are quoted against CBOT futures in cts/bu:
Current Previous
Bid Bid
Chicago, Illinois
Corn processors -3 + H -3 + 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 +0 + H +0 + H UNC
Decatur IL corn +2 + H +0 + H UP 2
Decatur IL soybeans +10 + F +10 + F UNC
Burns Harbor IN corn -20 + H -20 + H UNC
Burns Harbor IN soy -20 + F -20 + F UNC
Lafayette IN soy +5 + F +5 + F UNC
Toledo OH (port)
Corn -14 + H -14 + H UNC
Soy +0 + F +0 + F UNC
SRW wheat -10 + H -10 + H UNC
Davenport IA (river)
Corn -4 + H -4 + H UNC
Soy -8 + H -8 + H UNC
Evansville IN (rail)
15-car CSX corn +9 + H +9 + H UNC
Cincinnati OH (rail)
3-car corn -2 + H -2 + H UNC
Hereford TX corn +97 + H +97 + H UNC
Columbus OH (rail)
3-car corn -2 + H -2 + H UNC
Morris IL (river)
Corn -18 + H -18 + H UNC
Soybeans +7 + F +8 + F DN 1
Fort Worth TX corn +100 + H +100 + H UNC
Blair NE corn +2 + H +2 + H UNC
Council Bluffs, IA (elevator)
Corn -10 + H -10 + H UNC
Soy -35 + F -35 + F UNC
Des Moines IA soy UNQ UNQ UNC
Sioux City IA soy -35 + F -35 + F UNC
NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, 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 Bob
Burgdorfer)
U.S. Cash Grains-Corn steady to higher on light offerings
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