U.S. Cash Grains-Ethanol corn bids weak after sales spike; soy firm

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
	
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)

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