U.S. Cash Grains-Soy bids steady to weak as meal demand ebbs

Nov 21 (Reuters) - Soybean spot basis bids were mostly
steady to lower around the U.S. Midwest early on Thursday as an
ebb in demand for soymeal following a buildup in supplies after
harvest pressured bids, dealers said.
    * Basis offers for soymeal have declined at U.S. export
markets amid a slight slowdown from the near-record pace of
purchases from international buyers. Interior soy processors
also discounted soymeal offers as fresh supplies of the animal
feed become increasingly available.
    * But farmer sales of soybeans have slowed following a spike
in movement last week, capping declines in the soybean basis.
	
Strong export demand for soybeans was also supportive. * The soy basis fell 5 cents per bushel at a processor in Lincoln, Nebraska, while bids fell by the same amount for the second time this week at an elevator in Toledo, Ohio. * The soy basis gained 12 cents at an elevator near Cincinnati, Ohio, rebounding after steep losses last week tied to a spike in barge freight. Shipping costs have plunged this week on Midwest rivers, pressured by a more plentiful supply of empty vessels to ship freshly harvested supplies to the U.S. Gulf Coast export markets. * Corn spot basis bids gained 4 cents along the Illinois River and held steady elsewhere as farmers largely delayed sales in the hopes of selling later at higher prices. Basis values are quoted against CBOT futures in cts/bu: CORN SOYBEANS CINCINNATI OH -5 + Z UNC -10 + F UP 12 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 +10 + Z UNC +15 + F UNC DECATUR IN +3 + F UNC MORRISTOWN IN +0 + F UNC LAFAYETTE IN +7 + F UNC CEDAR RAPIDS +23 + Z UNC -7 + F UNC
COUNCIL BLUFFS IA -8 + F UNC LINCOLN NE -5 + F DN 5 BLAIR NE +0 + Z UNC RIVER TERMINALS CORN SOYBEANS TOLEDO OH -20 + Z UNC +5 + F DN 5 SENECA IL -1 + Z UP 4 +7 + F UNC SAVANNA IL +0 + Z UNC -6 + F UNC DAVENPORT IA +0 + Z UNC -4 + F DN 2 ETHANOL PLANTS LINDEN IN -5 + Z UNC UNION CITY IN -15 + Z UNC ANNAWAN IL +4 + Z UNC COUNCIL BLUFFS IA -10 + 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 Meredith Mazzilli)

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