U.S. Cash Grains-Soy bids plunge at processors, rivers after sales

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
	
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)

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