CHICAGO, Dec 3 (Reuters) - Spot basis bids for corn and soybeans were steady to firmer in the U.S. Midwest on Tuesday, reflecting a slow pace of farmer offerings as Chicago Board of Trade futures stayed within recent trading ranges, curbing further sales before the year's end, brokers said.
* The soybean basis firmed by 5 cents a bushel at a crushing operation in Council Bluffs, Iowa, by 3 cents at Seneca, Illinois, on the Illinois River, and by 2 cents at a terminal in Cincinnati, Ohio.
* Soybean crush margins have declined since early November but remain profitable, supporting processor demand for replacement beans.
* The U.S. Department of Agriculture reported that U.S. processors crushed 215.8 million bushels of soybeans in October, a record high for any month that topped a range of trade expectations for 209.5 million to 212 million bushels.
* For corn, the basis improved by a penny a bushel at Seneca, Illinois, and by 2 cents at an ethanol plant in Union City, Indiana.
* Most locations have rolled their corn basis to the CBOT March futures contract CH25 as the CBOT December contract CH25 nears its Dec. 13 expiration.
* On the CBOT as of 11:15 a.m. CST (1715 GMT), January soybean futures SF25 were up 6-3/4 cents at $9.92 per bushel while March corn futures CH25 were down 1/2 cent at $4.32 a bushel. GRA/
Basis values are quoted against CBOT futures in cts/bu:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | +12 | + | H | UNC | +18 | + | F | UP 2 | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | |||||||
DES MOINES IA | UNQ | UNC | |||||||
LINCOLN NE | -20 | + | H | NC | |||||
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | +6 | + | H | UNC | +5 | + | F | UNC | |
DECATUR IN | +5 | + | F | UNC | |||||
MORRISTOWN IN | +10 | + | F | UNC | |||||
LAFAYETTE IN | +5 | + | F | UNC | |||||
CEDAR RAPIDS IA | -5 | + | H | UNC | -5 | + | F | UNC | |
COUNCIL BLUFFS IA | -10 | + | F | UP 5 | |||||
LINCOLN NE | -10 | + | F | UNC | |||||
BLAIR NE | +0 | + | H | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -24 | + | H | UNC | -35 | + | F | UNC | |
SENECA IL | -5 | + | H | UP 1 | +5 | + | F | UP 3 | |
SAVANNA IL | -34 | + | H | UNC | -51 | + | F | UNC | |
DAVENPORT IA | -15 | + | H | UNC | -8 | + | F | UNC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | -7 | + | H | UNC | |||||
UNION CITY IN | +5 | + | H | UP 2 | |||||
ANNAWAN IL | -10 | + | H | UNC | |||||
COUNCIL BLUFFS IA | -10 | + | H | UNC | |||||
SRW WHEAT | |||||||||
TOLEDO OH | -30 | + | H | UNC | |||||
CINCINNATI OH | UNQ | UNC | |||||||
DECATUR IN | -50 | + | N | UNC | |||||
BURNS HARBOR IN | UNQ | UNC |
NOTE: 0 = Option price, UNC = Unchanged, UNQ = Unquoted
NC = Not comparable, DP = Delayed price, N/A = Not available,
F = January, H = March, K = May, N = JulyQ = August, U = September, X = November, Z = December
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LINKS: 0#USCSHGRN-PM
For U.S. forward basis spreadsheets, please click:
CORN/BASIS, SOYA/BASIS, WHEAT/BASIS, MILO/BASIS
- CBOT corn report COR/
- CBOT soybean report SOY/C
- CBOT wheat report WHE/C
- U.S. grain barge freight values BG/US
- U.S. Midwest cash grain PM GRA/PM
- U.S. CIF/FOB Gulf Grain GRA/F
(Reporting by Julie Ingwersen; editing by Jonathan Oatis)
((Julie.ingwersen@thomsonreuters.com; 1-313-484-5283; Reuters Messaging: julie.ingwersen.thomsonreuters.com@reuters.net))
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