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U.S. Cash Grains-Soy processor bids weaken after sales; corn firm

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: CORN SOYBEANS 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 PROCESSORS CORN SOYBEANS 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 RIVER TERMINALS CORN SOYBEANS
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 ETHANOL PLANTS LINDEN IN -10 + H UNC UNION CITY IN -2 + H UP 1 ANNAWAN IL -5 + H UNC COUNCIL BLUFFS IA -5 + H DN 3 SRW WHEAT 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 --------------------------------------------------------------- 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 Marguerita Choy)

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