U.S. Cash Grains-Soy bids ease on supply, corn basis steady

Nov 18 (Reuters) - Soybean spot basis bids were steady to
lower at U.S. Midwest processors and river terminals early on
Monday as a jump in barge freight and a slight reduction in
demand for soymeal pressured bids with the harvest nearly
complete, dealers said.
    * Bearish buyers of soymeal have slowed their pace of
purchasing in recent days at the same time that farmers
increased sales of freshly harvested soybeans. The soy basis
eased at several large Iowa processor plants and fell late on
Friday at a major crushing facility in Decatur, Illinois.
* Soaring shipping costs on the lower Ohio River also squeezed bids along the waterway, which led to follow-through weakness in the basis at nearby processors and elevators in Ohio, Indiana and Illinois. * Corn spot basis bids were largely unchanged as the seasonal buildup in supplies during the harvest was offset by good demand and strong profit margins for processors and ethanol plants. * Many ethanol makers are earning their best profits in several years even as the government on Friday proposed reducing the mandate for the amount of the biofuel that is blended into the nation's gasoline. * Farmer sales of corn and soybeans ranged from light to nonexistent early on Monday as futures hovered near recent lows while rains were likely to delay the final phases of harvest. Basis values are quoted against CBOT futures in cts/bu: CORN SOYBEANS CINCINNATI OH -15 + Z UNC -22 + F UNC BURNS HARBOR IN -24 + Z UNC -20 + F DN 14 DECATUR IN -25 + Z UNC DES MOINES IA -20 + F UNC LINCOLN NE -8 + Z UNC PROCESSORS CORN SOYBEANS DECATUR IL +10 + Z UNC +15 + F DN 2 DECATUR IN +3 + F UNC MORRISTOWN IN +0 + F UNC LAFAYETTE IN +7 + F UNC CEDAR RAPIDS +23 + Z UNC -15 + F DN 3
COUNCIL BLUFFS IA -5 + F UNC LINCOLN NE +0 + F UNC BLAIR NE +5 + Z UNC RIVER TERMINALS CORN SOYBEANS TOLEDO OH -24 + Z UNC +15 + F UNC SENECA IL -22 + Z UNC +7 + F UP 2 SAVANNA IL -9 + Z UNC +0 + F DN 2 DAVENPORT IA -2 + Z DN 2 +0 + F DN 2 ETHANOL PLANTS LINDEN IN -10 + Z UP 5 UNION CITY IN -15 + Z UNC ANNAWAN IL +4 + Z UNC COUNCIL BLUFFS IA -8 + Z UNC SRW WHEAT TOLEDO -30 + Z UNC CINCINNATI -30 + Z UNC DECATUR IN -10 + Z UNC BURNS HARBOR -35 + Z UNC NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted, NC = Not comparable, DP = Delayed Price, Z = December, F = January, 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 Maureen Bavdek; )

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