Nov 27 (Reuters) - Soybean spot basis bids fell sharply at
processors and river terminals around the U.S. Midwest early on
Wednesday as recent spikes in both basis and futures sparked a
round of sales from farmers and commercial elevators, dealers
said.
* Some growers continued to sell small portions of their soy
harvests for delivery during the next two months after cash
prices climbed above the psychological threshold of $13 per
bushel. Prices rose above $13.45 for January delivery, spurring
sales at that level, an Indiana soy buyer said.
* Dealers that boosted the soy basis earlier this week
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pulled back bids in the wake of the sales pickup. Bids fell as
much as 21 cents at a river terminal in Savanna, Illinois.
* The seasonal closing of shipping on the northernmost
points on the Mississippi River also weighed on bids.
* Corn spot basis bids were steady to weak, easing at
processors and ethanol plants in Iowa and Indiana following a
modest increase in farmer sales.
* Still, the overall pace of sales of each crop remained
lighter than normal following the harvest, with depressed prices
chilling selling interest from farmers still flush with cash
following record commodities values last year.
* Many processors and elevators were closing early on
Wednesday and on Friday - and will be closed entirely on
Thursday in observance of the U.S. Thanksgiving Day holiday.
Basis values are quoted against CBOT futures in cts/bu:
CORN SOYBEANS
CINCINNATI OH -5 + Z UNC +0 + F UNC
BURNS HARBOR IN -24 + Z UNC -20 + F UNC
DECATUR IN -20 + Z UNC
DES MOINES IA -30 + F UNC
LINCOLN NE -8 + Z UNC
PROCESSORS
CORN SOYBEANS
DECATUR IL +15 + Z UNC +15 + F UNC
DECATUR IN +3 + F UNC
MORRISTOWN IN +0 + F UNC
LAFAYETTE IN +0 + F UNC
CEDAR RAPIDS IA +23 + Z DN 1 -10 + F DN 12
COUNCIL BLUFFS IA -10 + F DN 2
LINCOLN NE -5 + F UNC
BLAIR NE +0 + Z UNC
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -16 + Z UNC +5 + F UNC
SENECA IL -7 + Z DN 3 +5 + F DN 2
SAVANNA IL +0 + Z UNC -15 + F DN 21
DAVENPORT IA +0 + Z UNC -8 + F DN 6
ETHANOL PLANTS
LINDEN IN -5 + Z UNC
UNION CITY IN -7 + Z DN 4
ANNAWAN IL +6 + Z UNC
COUNCIL BLUFFS IA -4 + Z UNC
SRW WHEAT
TOLEDO OH -30 + Z UNC
CINCINNATI OH -30 + Z UNC
DECATUR IN -10 + Z UNC
BURNS HARBOR IN -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 Meredith
Mazzilli)
U.S. Cash Grains-Soy bids plunge at processors, rivers after sales
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