July 24 (Reuters) – Spot soybean basis bids held mostly steady at elevators and processors around the U.S. Midwest in quiet trade on Thursday while Chicago Board of Trade soybean futures rallied and settled higher, dealers said.
* The 1 percent rise in U.S. soy futures was still not enough to entice farmers to market large amounts of soybean crops, dealers said.
* Farmers contacted grain merchants to check cash prices, but few booked sales. Earlier this week some farmers placed soybeans in delayed pricing programs hoping cash prices would rise later.
* Some processors have rolled their bids to the Chicago Board of Trade November contract, from the August. The contract month change weakened the bids.
* Spot corn basis bids held mostly steady. CBOT corn settled slightly lower on Thursday pressured by the expectations of a large crop.
* A corn bid fell by 7 cents per bushel at a terminal on the Illinois River.
* Soft red winter wheat bids held mostly steady. An Ohio dealer said harvest continues in central Michigan and farmers delivered the freshly cut grain in an effort to meet contract obligations.
Basis values are quoted against CBOT futures in cts/bu: Current Previ ous Bid Bid Chicago, Illinois Corn processors +12 + U +12 + U UNC Corn elevators -2 + U -2 + U UNC Soybean elevators +45 + Q +45 + Q UNC Wheat elevators +0 + U +0 + U UNC Wheat processors -20 + U -20 + U UNC Decatur IL corn +30 + U +30 + U UNC Decatur IL +190 + X +190 + X UNC soybeans Burns Harbor IN -14 + U -14 + U UNC corn Burns Harbor IN +45 + Q +45 + Q UNC soy Lafayette IN soy +90 + Q +90 + Q UNC Toledo OH (port) Corn -9 + U -9 + U UNC Soy +70 + Q +70 + Q UNC SRW wheat +5 + U +5 + U UNCDavenport IA (river) Corn +8 + U +8 + U UNC Soy +25 + Q +25 + Q UNC Evansville IN (rail) 15-car CSX corn +11 + U +11 + U UNC Cincinnati OH (rail) 3-car corn -6 + U -6 + U UNC Hereford TX corn +135 + U +135 + U UNC Columbus OH (rail) 3-car corn +0 + U +0 + U UNC Morris IL (river) Corn +3 + U +10 + U DN 7 Soybeans +70 + Q +76 + Q DN 6 Fort Worth TX +120 + U +120 + U UNC corn Blair NE corn -11 + U -11 + U UNC Council Bluffs, IA (elevator) Corn -18 + U -18 + U UNC Soy +50 + Q +50 + Q UNC Des Moines IA soy UNQ UNQ UNC Sioux City IA soy +175 + X +175 + X UNC NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted, NC = Not comparable, DP = Delayed Price, Q = August, U = September, X=November ---------------------------------------------------------------- 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 Meredith Davis in Chicago; editing by Gunna Dickson)