Dec 11 (Reuters) - Soybean cash basis bids were steady to
lower at U.S. Midwest processing plants early on Wednesday,
pressured by a recent spike in farmer sales and reduced demand
for soymeal, dealers said.
* Bids for the oilseed fell 2 cents per bushel at processors
in Iowa and Indiana and eased 5 cents in Lincoln, Nebraska.
* Farmers sold small portions of soybeans this week and
larger volumes last week, replenishing crushing supplies at
processors even as surging soymeal futures kept a lid of demand
for the animal feed produced by the processors.
* Still, positive crush margins and historically strong
soymeal demand continued to underpin the soybean basis.
Near-record export demand for soybeans also supported bids at
terminals along Midwest rivers.
* Crush margins as measured by the Chicago Board of Trade
were headed for their third straight day of gains.
* Corn bids were steady to higher at processors, ethanol
plants and river terminals, supported by a slow pace of farmer
sales and strong demand.
* Positive ethanol margins had many makers of the
grain-based biofuel aggressively bidding for corn. Government
data released early on Wednesday showed the U.S. ethanol grind
at 944,000 barrels per day - the largest since January 2012.
Basis values quoted against CBOT futures in cents/bushel:
CINCINNATI OH -14 + H UNC -5 + F UNC
BURNS HARBOR IN -25 + H UNC -20 + F UNC
DECATUR IN -20 + H UNC
DES MOINES IA UNQ UNC
LINCOLN NE -15 + H UP 1
DECATUR IL +0 + H UNC +20 + F UNC
DECATUR IN -4 + F DN 2
MORRISTOWN IN +3 + F DN 2
LAFAYETTE IN +5 + F UNC
CEDAR RAPIDS IA +7 + H UNC -15 + F UNC
COUNCIL BLUFFS IA -20 + F DN 2
LINCOLN NE -20 + F DN 5
BLAIR NE +4 + H UP 2
TOLEDO OH -15 + H UNC +10 + F UNC
SENECA IL -15 + H UP 3 +14 + F UNC
SAVANNA IL -10 + H UNC +10 + H UNC
DAVENPORT IA -4 + H UP 2 -11 + H UP 1
LINDEN IN -10 + H UNC
UNION CITY IN -2 + H UP 1
ANNAWAN IL -5 + H UNC
COUNCIL BLUFFS IA -5 + H DN 3
TOLEDO OH -20 + H UNC
CINCINNATI OH -42 + H UNC
DECATUR IN -20 + H UNC
BURNS HARBOR IN -47 + H UNC
NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, F = January, H = March
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 Marguerita