U.S. Cash Grains-Soy bids weak in western Midwest as futures rise

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
	
held steady elsewhere in the region, supported by a slower pace of farmer sales. * 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)

About the author

Comments

explore

Stories from our other publications