Jan 15 (Reuters) - Corn cash basis bids were narrowly lower
at U.S. Midwest processors and ethanol plants on Wednesday,
pressured by a large spike in farmer sales and deliveries during
a futures rally earlier this week, grain merchants said.
* Some processors reduced so-called dumping hours after
farmers lined up in trucks to deliver corn when the biggest
spike since April in Chicago Board of Trade corn futures
was coupled with moderating temperatures.
* The warmer weather improved road conditions and resulted
in the biggest volume of corn deliveries so far this year, the
Read Also
Stronger canola prices welcome surprise
Mid-November canola market holding above resistance based on durable demand, resulting in pleasantly higher canola prices for Canadian farmers
dealers said.
* Corn bids eased late Tuesday by 2 cents to a premium of 6
cents above CBOT futures at a closely tracked processor in
Decatur, Illinois. Bids late last week at the location were 30
cents above futures.
* The corn basis also eased at a corn mill in Blair,
Nebraska, and at ethanol plants in Illinois and Indiana.
* Soybean processor bids were mixed, easing at an Iowa
processor but rising at a crushing plant in Nebraska, amid a
slower pace of farmer sales.
* The National Oilseed Processors Association was due to
release the soy crush in December at 11 a.m. CST (1700 GMT) and
analysts estimated the crush at 163.9 million bushels - the
second highest on records dating back to the start of 2002.
* Lower corn futures and only narrow gains in soybean
futures kept selling interest to a minimum in early
activity, the dealers said.
Basis values quoted against CBOT futures in cents/bushel:
CORN SOYBEANS
CINCINNATI OH -10 + H UNC +19 + H UNC
BURNS HARBOR IN -15 + 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 +6 + H DN 2 +35 + H UNC
DECATUR IN +12 + H UNC
MORRISTOWN IN +25 + H UNC
LAFAYETTE IN +25 + H UNC
CEDAR RAPIDS IA +14 + H UNC -10 + H UNC
COUNCIL BLUFFS IA -8 + H DN 4
LINCOLN NE -8 + H UP 7
BLAIR NE -4 + H DN 2
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -13 + H UNC +13 + H UNC
SENECA IL -18 + H UNC +27 + H UNC
SAVANNA IL -12 + H UNC +2 + H UNC
DAVENPORT IA -3 + H UNC -3 + H UP 5
ETHANOL PLANTS
LINDEN IN -2 + H UNC
UNION CITY IN -2 + H DN 2
ANNAWAN IL -6 + H DN 2
COUNCIL BLUFFS IA -12 + H UNC
SRW WHEAT
TOLEDO OH -10 + H UNC
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 Chris
Reese)
U.S. Cash Grains-Ethanol, processor corn bids ease after big sales
By
Related Coverage
explore
Stories from our other publications
