US Cash Grains-Soy bids ease in eastern Midwest as supplies build

Nov 15 (Reuters) - Soybean spot basis bids eased at
processors and elevators in the eastern U.S. Midwest early on
Friday as supplies piled up during the final phases of the
harvest, dealers said.
    * A slow pace of barge traffic and higher freight costs
along the lower Ohio River also squeezed the basis as shippers
slashed what they were willing to pay for the beans and nearby
processors and elevators then followed suit.
    * Bids eased 5 cents per bushel at a processor in
Morristown, Indiana, and fell 3 cents late on Thursday at a
large crushing plant in Decatur, Illinois. * Farmers sales of soybeans that spiked at midweek slowed, however, with growers that sold at $13 per bushel cash now holding out for $13.50 or more, the dealers said. * Corn bids were narrowly lower at Midwest river terminals and largely unchanged at processors and ethanol plants amid a slower pace of farmer sales and strong domestic and export demand. * Some processors, elevators and ethanol plants were expected to be open late into Friday night and during the weekend to accept fresh supplies as farmers begin to finish both the corn and soybean harvest. * Showers over the weekend will cause a minor slowdown in harvesting the U.S. corn and soybean crops but drier weather next week should allow farmers to nearly wrap up the 2013 harvest, an agricultural meteorologist said. Basis values are quoted against CBOT futures in cts/bu: CORN SOYBEANS CINCINNATI OH -15 + Z UNC -22 + F UNC BURNS HARBOR IN -24 + Z UNC -6 + F UNC DECATUR IN -25 + Z UNC DES MOINES IA -20 + F UNC LINCOLN NE -8 + Z UNC PROCESSORS CORN SOYBEANS DECATUR IL +10 + Z UNC +17 + F DN 3 DECATUR IN +3 + F UNC MORRISTOWN IN +0 + F DN 5 LAFAYETTE IN +7 + F UNC
CEDAR RAPIDS +23 + Z UNC -12 + F UNC COUNCIL BLUFFS IA -5 + F UNC LINCOLN NE +0 + F UNC BLAIR NE +5 + Z UNC RIVER TERMINALS CORN SOYBEANS TOLEDO OH -24 + Z UNC +15 + F DN 5 SENECA IL -22 + Z DN 1 +5 + F UNC SAVANNA IL -9 + Z UNC +2 + F UNC DAVENPORT IA +0 + Z DN 1 +2 + F UP 1 ETHANOL PLANTS LINDEN IN -15 + Z UNC UNION CITY IN -15 + Z UNC ANNAWAN IL +4 + Z UNC COUNCIL BLUFFS IA -8 + Z UP 2 SRW WHEAT TOLEDO -30 + Z UNC CINCINNATI -30 + Z UNC DECATUR IN -10 + Z UNC BURNS HARBOR -35 + Z UNC NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted, NC = Not comparable, DP = Delayed Price, Z = December, 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 Bernadette Baum)

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