U.S. Cash Grains-Ethanol, processor corn bids ease after big sales

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
	
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)

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