U.S. Cash Grains-Most corn, soy bids steady; farm sales slow

Nov 20 (Reuters) - Spot cash basis bids for corn and
soybeans were mostly steady in the U.S. Midwest on Wednesday,
and farmer selling remained slow due to low prices and plentiful
storage, dealers said.
    * Last year's drought-reduced corn crop and a buildup in
storage capacity in most areas over the past three years has
enabled farmers and elevators to store crops and wait for higher
prices.
    * "It's the first time we've seen a carry in the corn market
in a long time so everyone is willing to wait while they sell
	
the carry," a dealer said. * Most adjustments in the basis were light and tied to changes in freight costs rather than to movement or to the weakness in Chicago Board of Trade futures prices. * Chicago Board of Trade December corn futures closed 3/4 cent per bushel lower at $4.17 and January soybeans were down 2-1/2 cents at $12.73-3/4 a bushel. Basis values are quoted against CBOT futures in cts/bu: Current Previous Bid Bid Chicago, Illinois Corn processors +14 + Z +14 + Z UNC Corn elevators -5 + Z -5 + Z UNC Soybean elevators +5 + F +5 + F UNC Wheat elevators +0 + Z +0 + Z UNC Wheat processors -10 + Z -10 + Z UNC Decatur IL corn +10 + Z +10 + Z UNC Decatur IL soybeans +15 + F +15 + F UNC Burns Harbor IN corn -24 + Z -24 + Z UNC Burns Harbor IN soy -20 + F -20 + F UNC Lafayette IN soy +7 + F +7 + F UNC Toledo OH (port) Corn -17 + Z -17 + Z UNC Soy +7 + F +15 + F DN 8 SRW wheat -13 + Z -13 + Z UNC Davenport IA (river) Corn +0 + Z +0 + Z UNC Soy -2 + F -2 + F UNC Evansville IN (rail) 15-car CSX corn +3 + Z +3 + Z UNC Cincinnati OH (rail) 3-car corn -5 + Z -5 + Z UNC Hereford TX corn +100 + Z +95 + Z UP 5 Columbus OH (rail)
3-car corn -5 + Z -5 + Z UNC Morris IL (river) Corn -5 + Z -5 + Z UNC Soybeans +7 + F +7 + F UNC Fort Worth TX corn +130 + Z +125 + Z UP 5 Blair NE corn +0 + Z +0 + Z UNC Council Bluffs, IA (elevator) Corn -15 + Z -15 + Z UNC Soy -13 + F -13 + F UNC Des Moines IA soy -30 + X -30 + X UNC Sioux City IA soy -15 + F -15 + F UNC NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted, NC = Not comparable, DP = Delayed Price, Z = December, F = January --------------------------------------------------------------- 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 Sam Nelson; editing by Jim Marshall)

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