Feb 5 (Reuters) – Spot basis bids for corn were steady to
firm in the U.S. Midwest on Tuesday and soybean bids were mixed,
while farmer sales of both commodities were quiet, dealers said.
* Basis bids for corn firmed by 2 cents at two Indiana
ethanol plants.
* The soybean basis firmed by 10 cents at Cedar Rapids,
Iowa, but fell by 6 cents at Lincoln, Nebraska, following a
surge in farmer sales of old-crop soybeans in recent days.
* Ag Processing Inc said it has shuttered its corn
processing plant in Hastings, Nebraska, citing “challenging
economic conditions” in the ethanol industry.
* Canadian stocks of wheat and canola were lower than
expected as of December 31, according to a farm survey by
Statistics Canada. Drops were recorded in most major field crops
compared to the same date in 2011.
* Rain and snow expected by the weekend in the U.S. Plains
hard red winter wheat belt should offer some minor relief from
drought. The storm is expected to bring 0.25 to 1.00 inch of
moisture from northeast Colorado and northern Kansas into Iowa
and Wisconsin, the Commodity Weather Group said.
* At the Chicago Board of Trade, corn, soybean and wheat
futures were lower on technical selling ahead of a monthly
supply/demand report due out Friday from the U.S. Department of
Agriculture.
* As of 9:24 a.m. CST (1524 GMT), CBOT March corn was
down 6-1/2 cents per bushel at $7.27-3/4 and March soybeans
were down 6-1/4 cents at $14.82-1/2. March wheat was
down 3 cents at $7.60.
Basis values are quoted against CBOT futures in
cents/bushel.
ELEVATORS
CORN SOYBEANS
CINCINNATI OH +25 + H UP 5 +22 + H UNC
BURNS HARBOR IN +15 + H UNC +10 + H UNC
DECATUR IN +27 + H UNC
DES MOINES IA -10 + H UNC
LINCOLN NE UNQ UNC
PROCESSORS
CORN SOYBEANS
DECATUR IL +30 + H UNC +40 + H UNC
DECATUR IN +20 + H UNC
MORRISTOWN IN +35 + H UNC
LAFAYETTE IN +35 + H UNC
CEDAR RAPIDS +15 + H UNC +22 + H UP 10
COUNCIL BLUFFS +25 + H UNC
LINCOLN NE +10 + H DN 6
BLAIR NE +33 + H DN 1
RIVER TERMINALS
CORN SOYBEANS
TOLEDO OH +20 + H UNC +0 + H UNC
SENECA IL +4 + H UP 1 +32 + H UNC
SAVANNA IL +13 + H UNC +9 + H UP 1
DAVENPORT IA +3 + H UNC -1 + H UP 3
ETHANOL PLANTS
LINDEN IN +19 + H UP 2
UNION CITY IN +42 + H UP 2
ANNAWAN IL +12 + H UNC
COUNCIL BLUFFS +23 + H UNC
SRW WHEAT
TOLEDO -25 + H UNC
CINCINNATI +10 + H UNC
DECATUR IN -10 + H UNC
BURNS HARBOR -35 + H UNC
Note: 0 = Option price, UNQ = Unquoted, NC = not comparable,
DP = Delayed Price, H = March, K = May, N = July
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LINKS:
For U.S. forward basis spreadsheets, please 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 Julie Ingwersen; Editing by Grant McCool)
