June 4 (Reuters) – Soybean spot basis bids were lower at U.S. Midwest processors and river terminals on Wednesday as reduced demand from crushers and exporters weighed on bids following a spike in farmer sales late last month, dealers said.
* Processors were rolling bids to Chicago Board of Trade August futures from July futures. In nearly each case, the dealers took less than the roughly 70-cent spread between the contracts, in effect reducing their flat-price bid.
* At a closely tracked crushing plant in Decatur, Illinois, dealers took only 55 cents of the spread while two processors in Indiana took 50 cents of the spread.
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* At two terminals along the Mississippi River, soy buyers who were still bidding against July futures reduced their basis by 6 cents per bushel, reflecting limited exporter demand and imports of Brazilian beans into the United States.
* Corn spot basis bids were mostly steady to higher at interior processors, elevators and ethanol plants as the lowest futures in 3-1/2 months kept farmer offerings of the grain to a minimum. Bids weakened at some river terminals.
* Soft red winter wheat bids declined by 5 cents per bushel at an elevator in southern Ohio, but the basis could rebound soon amid increasing exporter interest, a dealer there said.
Basis values are quoted against CBOT futures in cts/bu:
CORN SOYBEANS
CINCINNATI OH +2 + N UP 12 +95 + Q NC
BURNS HARBOR IN -12 + N UP 1 +15 + N DN 15
DECATUR IN -15 + N UP 5
DES MOINES IA UNQ UNC
LINCOLN NE -13 + N UNC
PROCESSORS
CORN SOYBEANS
DECATUR IL +18 + N UNC +95 + Q NC
DECATUR IN +115 + Q NC
MORRISTOWN IN +115 + Q NC
LAFAYETTE IN +115 + Q UNC
CEDAR RAPIDS IA +25 + N UNC +75 + Q UNC
COUNCIL BLUFFS IA +62 + Q NC
LINCOLN NE +62 + Q NC
BLAIR NE -1 + N UNC
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -13 + N UNC +30 + N UNC
SENECA IL +4 + N UNC +15 + N UNC
SAVANNA IL +0 + N DN 1 +0 + N DN 6
DAVENPORT IA +7 + N DN 3 +1 + N DN 6
ETHANOL PLANTS
LINDEN IN +0 + N UP 2
UNION CITY IN +12 + N UNC
ANNAWAN IL +9 + N DN 3
COUNCIL BLUFFS IA -3 + N UNC
SRW WHEAT
TOLEDO OH -3 + N UNC
CINCINNATI OH -15 + N DN 5
DECATUR IN -15 + N UNC
BURNS HARBOR IN -20 + N UNC
NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, N = July, Q = August
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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 Leslie
Adler)
