Your Reading List

U.S. Cash Grains-Corn steady to higher on light offerings

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
	
third straight session in reaction to dry growing conditions in Argentina. However, Chicago prices are still hovering near a 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)

About the author

Comments

explore

Stories from our other publications