Nov 14 (Reuters) - Soybean cash basis bids eased at U.S.
Midwest processors, elevators and river terminals on Friday,
pressured by larger supplies, reduced demand and a recent spike
in shipping costs on the region's waterways, dealers said.
* The soy basis fell as much as 14 cents per bushel at an
elevator in Burns Harbor, Indiana, and declined for the second
consecutive day at a closely watched processor in Decatur,
Illinois.
* Demand for soymeal ebbed at midweek after the futures
jumped to a one-month high, while at the same time higher
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* The better supplies and lull in demand weighed on basis
bids for the oilseed. Surging freight costs on the lower Ohio
River also weighed on the soy basis in the eastern Midwest.
* A steep drop in the Chicago Board of Trade soy complex of
Friday was tied to the weaker cash market and also chilled any
selling interest from farmers, the dealers said.
* The losses came despite a higher-than-expected soybean
crush in October, according to National Oilseed Processors
Association data released on Friday.
* Corn spot basis bids held steady at processors and ethanol
plants amid a slow pace of farmer sales. Many ethanol makers
left their corn basis unchanged even as the government proposed
a reduced requirement for blending the biofuel into gasoline
sold in the United States.
Basis values are quoted against CBOT futures in cts/bu:
Current Previous
Bid Bid
Chicago, Illinois
Corn processors +8 + Z +8 + 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 +17 + F DN 2
Burns Harbor IN corn -24 + Z -24 + Z UNC
Burns Harbor IN soy -20 + F -6 + F DN 14
Lafayette IN soy +7 + F +7 + F UNC
Toledo OH (port)
Corn -20 + Z -20 + Z UNC
Soy +15 + F +15 + F UNC
SRW wheat -13 + Z -13 + Z UNC
Davenport IA (river)
Corn -2 + Z +0 + Z DN 2
Soy +0 + F +2 + F DN 2
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 +95 + Z +95 + Z UNC
Columbus OH (rail)
3-car corn -5 + Z -5 + Z UNC
Morris IL (river)
Corn -22 + Z -22 + Z UNC
Soybeans +7 + F +5 + F UP 2
Fort Worth TX corn +125 + Z +140 + Z DN 15
Blair NE corn +5 + Z +5 + Z UNC
Council Bluffs, IA (elevator)
Corn -15 + Z -15 + Z UNC
Soy -12 + F -12 + F UNC
Des Moines IA soy -30 + X -20 + X DN 10
Sioux City IA soy -15 + F -15 + F UNC
NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, X = November,
Z = December
---------------------------------------------------------------
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 Bob
Burgdorfer)
U.S. Cash Grains-Soy bids drop as demand ebbs, freight rises
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