Jan 10 (Reuters) - Corn cash basis bids eased at U.S.
Midwest ethanol plants early on Friday following a modest spike
in sales ahead of a government crop report due at midday, grain
merchants said.
* Analysts widely expect the U.S. Agriculture Department to
lift its estimate for last year's corn crop and some farmers
increased sales amid ideas prices could decline after the report
is released at 11 a.m. CST (1700 GMT).
* A downturn in profit margins at ethanol plants also
weighed on bids while moderating temperatures allowed growers to
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resume deliveries of the crop following a slow pace of sales and
deliveries earlier this week.
* Corn bids declined 2 to 6 cents per bushel at ethanol
plants in Iowa, Illinois and Indiana.
* Soybean spot basis bids were firm at processors, rising as
much as 18 cents per bushel at a crushing plant in Indiana amid
a slow pace of deliveries and good demand, especially in the
eastern Midwest.
* Soft red winter wheat bids increased 5 cents at a closely
watched elevator in Toledo, Ohio.
Basis values quoted against CBOT futures in cents/bushel:
CORN SOYBEANS
CINCINNATI OH -10 + H UNC +19 + H UNC
BURNS HARBOR IN -17 + H UNC -8 + H UNC
DECATUR IN -10 + H UNC
DES MOINES IA UNQ UNC
LINCOLN NE -18 + H UNC
PROCESSORS
CORN SOYBEANS
DECATUR IL +30 + H UNC +35 + H UNC
DECATUR IN +12 + H UNC
MORRISTOWN IN +22 + H UNC
LAFAYETTE IN +35 + H UP 18
CEDAR RAPIDS IA +20 + H UNC -8 + H UNC
COUNCIL BLUFFS IA +0 + H UNC
LINCOLN NE -10 + H UP 2
BLAIR NE +5 + H UNC
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -13 + H UNC +13 + H UNC
SENECA IL -15 + H UP 2 +29 + H DN 7
SAVANNA IL -12 + H UNC +2 + H UNC
DAVENPORT IA -3 + H UNC -8 + H UNC
ETHANOL PLANTS
LINDEN IN +10 + H DN 5
UNION CITY IN +5 + H DN 2
ANNAWAN IL +3 + H DN 6
COUNCIL BLUFFS IA -8 + H DN 3
SRW WHEAT
TOLEDO OH -10 + H UP 4
CINCINNATI OH -42 + H UNC
DECATUR IN -5 + H UNC
BURNS HARBOR IN -35 + H UNC
NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, 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 Nick
Zieminski)
U.S. Cash Grains-Ethanol corn bids weak after sales spike; soy firm
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