U.S. Cash Grains-Soy bids mixed on higher futures, strong demand

Nov 12 (Reuters) - Soybean spot basis bids were steady to
mixed across the U.S. Midwest on Tuesday as the highest futures
in six weeks weighed on bids at some locations while strong
demand and a slow pace of farmer sales bolstered the basis
elsewhere, dealers said.
    * Good domestic crusher demand and near-record export demand
for soybeans continued to underpin the soy basis even as the
harvest neared completion and futures gained 1 percent. 
 
    * Bids jumped 5 cents per bushel to the highest level in
more than a month at a closely monitored processor in Decatur,
	
Illinois, and gained 5 cents at a processor in Sioux City, Iowa. * But bids for the oilseed weakened 7 cents at an elevator in Toledo, Ohio, where some farmers increased sales in recent days. Bids also fell at an elevator in Des Moines, Iowa. * The soy basis was mixed along Midwest rivers with support from export demand but pressure from the higher shipping costs associated with large volumes moving on the rivers during harvest. * Corn bids weakened in the southern U.S. Plains rail markets while rail rates also decreased, traders said. * The corn basis was largely unchanged in the Midwest as farmer sales slowed following a large volume of trades during the past several days. Basis values are quoted against CBOT futures in cts/bu: Current Previous Bid Bid Chicago, Illinois Corn processors +10 + Z +10 + Z UNC Corn elevators -5 + Z -5 + Z UNC Soybean elevators +5 + F +0 + X NC 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 +20 + F +15 + F UP 5 Burns Harbor IN corn -27 + Z -27 + Z UNC Burns Harbor IN soy -6 + F -6 + F UNC Lafayette IN soy +7 + F +7 + F UNC Toledo OH (port)
Corn -22 + Z -22 + Z UNC Soy +15 + F +21 + F DN 6 SRW wheat -13 + Z -13 + Z UNC Davenport IA (river) Corn -6 + Z -6 + Z UNC Soy +0 + F +7 + F DN 7 Evansville IN (rail) 15-car CSX corn +2 + Z +2 + Z UNC Cincinnati OH (rail) 3-car corn -11 + Z -11 + Z UNC Hereford TX corn +95 + Z +110 + Z DN 15 Columbus OH (rail) 3-car corn -11 + Z -11 + Z UNC Morris IL (river) Corn -22 + Z -25 + Z UP 3 Soybeans +5 + F -3 + F UP 8 Fort Worth TX corn +120 + Z +135 + Z DN 15 Blair NE corn +5 + Z +5 + Z UNC Council Bluffs, IA (elevator) Corn -10 + Z -10 + Z UNC Soy -15 + F -15 + F UNC Des Moines IA soy -15 + X -5 + X DN 10 Sioux City IA soy -15 + F -20 + F UP 5 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 Grant McCool)

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