Nov 25 (Reuters) - Soybean spot basis bids were steady to
lower at processors, elevators and river terminals in the
western U.S. Midwest on Monday as the highest futures levels in
two months sparked light farmer sales, dealers said.
* Farmers sold small portions of their freshly harvested
soybeans for the second straight session as cash prices stayed
above the psychological threshold of $13 per bushel. Bids fell 2
cents at a processor in Sioux City, Iowa, and at a terminal
along the Mississippi River in Davenport, Iowa.
* Corn cash bids firmed at an elevator in Toledo, Ohio, and
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* Dealers noted a spike in phone traffic with growers
inquiring about basis bids and delivery hours at processors and
elevators in the days ahead of Thursday's U.S. Thanksgiving Day
holiday.
* But selling interest remained relatively muted as many
growers stowed away a majority of their harvest in on-farm grain
bins or at commercial elevators in the hopes of selling later at
higher prices.
* Barge freight costs were steady to firm on Midwest rivers.
This week was the last for shipping on some points of the mid-
and upper-Mississippi River as waters typically freeze over,
bringing vessel traffic to a halt.
Basis values are quoted against CBOT futures in cts/bu:
Current Previous
Bid Bid
Chicago
Corn processors +13 + Z +14 + Z DN 1
Corn elevators +0 + Z +0 + Z UNC
Soybean elevators +5 + F +5 + F UNC
Wheat elevators +0 + Z +0 + Z UNC
Wheat processors -10 + Z -10 + Z UNC
Decatur, IL corn +15 + Z +15 + Z UNC
Decatur, IL soybeans +15 + F +15 + F UNC
Burns Harbor, IN corn -24 + Z -24 + Z UNC
Burns Harbor, IN soy -20 + F -20 + F UNC
Lafayette, IN soy +0 + F +0 + F UNC
Toledo, OH (port)
Corn -17 + H -21 + H UP 4
Soy +6 + F +6 + F UNC
SRW wheat -13 + Z -13 + Z UNC
Davenport, IA (river)
Corn +0 + Z +0 + Z UNC
Soy -2 + F +0 + F DN 2
Evansville, IN (rail)
15-car CSX corn +8 + Z +8 + Z UNC
Cincinnati, OH (rail)
3-car corn +0 + Z +0 + Z UNC
Hereford, TX corn +100 + Z +100 + Z UNC
Columbus, OH (rail)
3-car corn +0 + Z +0 + Z UNC
Morris, IL (river)
Corn -4 + Z -4 + Z UNC
Soybeans +7 + F +7 + F UNC
Fort Worth, TX corn +130 + Z +130 + Z UNC
Blair, NE corn +0 + Z +0 + Z UNC
Council Bluffs, IA (elevator)
Corn -4 + Z -7 + Z UP 3
Soy -12 + F -11 + F DN 1
Des Moines, IA soy -30 + X -30 + X UNC
Sioux City, IA soy -19 + F -17 + F DN 2
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 G Crosse)
U.S. Cash Grains-Soy bids weak in western Midwest as futures rise
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