July 9 (Reuters) – Spot cash basis bids for corn and soybeans were steady to slightly higher at processors and elevators in the U.S. Midwest on Wednesday, while farmers were reluctant sellers as Chicago Board of Trade futures dragged on cash prices, dealers said.
* Farmers interested in selling some soybean crops were not pleased with current cash prices, a dealer in western Iowa said.
* Farmers, some of whom have become accustomed to getting $14 to $15 per bushel for soy, were not willing to sell at current ranges of $12 to $13, the western Iowa dealer said.
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* A dealer in northern Ohio said farmers were “shell shocked” at current corn prices and were not interested in selling at those levels.
* The soft red winter wheat harvest was happening slowly due to wet field conditions, a southern Ohio dealer said. Deliveries were also slow as farmers chose to store the grain rather than sell right away, the dealer said.
* The U.S. Department of Agriculture is scheduled to release its monthly crop supply and demand report on Friday at 12 p.m. EDT (1600 GMT).
Basis values are quoted against CBOT futures in cts/bu:
CORN SOYBEANS
CINCINNATI OH +5 + Q UNC +100 + Q UP 5
BURNS HARBOR IN -15 + U UNC +45 + Q UNC
DECATUR IN -15 + U UNC
DES MOINES IA UNQ UNC
LINCOLN NE -14 + U UNC
PROCESSORS
CORN SOYBEANS
DECATUR IL +20 + U UNC +100 + Q UNC
DECATUR IN +100 + Q UNC
MORRISTOWN IN +110 + Q UNC
LAFAYETTE IN +90 + Q UNC
CEDAR RAPIDS IA +24 + U UP 6 +85 + Q UNC
COUNCIL BLUFFS IA +70 + Q UNC
LINCOLN NE +80 + Q UNC
BLAIR NE +0 + U UNC
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH -8 + U DN 1 +72 + Q UNC
SENECA IL +13 + U UP 3 +90 + Q UP 15
SAVANNA IL +3 + U UP 2 +0 + N UP 2
DAVENPORT IA +8 + U UP 3 +78 + Q NC
ETHANOL PLANTS
LINDEN IN +6 + U UNC
UNION CITY IN -12 + U UNC
ANNAWAN IL +11 + U UP 4
COUNCIL BLUFFS IA -13 + U UNC
SRW WHEAT
TOLEDO OH +5 + U UNC
CINCINNATI OH +5 + U UP
10
DECATUR IN -5 + U UNC
BURNS HARBOR IN +0 + U UNC
NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, N = July,
Q = August, U = September
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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 Lisa Von
Ahn)
