CHICAGO, March 10 (Reuters) - Spot basis bids for corn were steady to stronger at Midwestern grain elevators, processors and river terminals on Monday, as some buyers sought to encourage more selling from reluctant farmers, brokers said.
* Soybean basis bids were mixed at elevators and processing locations.
* Farmers are expected to remain slow sellers of their crops until they have planted corn and soybeans this spring, unless prices rally, brokers said.
* A river terminal in Toledo, Ohio, raised its spot basis bid for corn by 5 cents a bushel, while a Cincinnati elevator increased its corn bid by a penny.
* Growers and traders expect the U.S. Department of Agriculture will probably not make major changes to global supply and demand estimates in a monthly report due on Tuesday.
* Chicago Board of Trade May corn futures CK25 were up 2-1/2 cents to $4.71-3/4 per bushel by 11:15 a.m. CDT (1615 GMT). CBOT May soybeans SK25 fell 9-1/4 cents to $10.15-3/4 a bushel.
Basis values are quoted against CBOT futures in cts/bu:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | -8 | + | K | UP 1 | -3 | + | K | UP 1 | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | |||||||
DES MOINES IA | UNQ | UNC | |||||||
LINCOLN NE | -40 | + | K | UNC | |||||
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | -8 | + | K | UNC | -10 | + | K | UNC | |
DECATUR IN | +5 | + | K | UNC | |||||
MORRISTOWN IN | +0 | + | K | UP 5 | |||||
LAFAYETTE IN | -7 | + | K | UNC | |||||
CEDAR RAPIDS IA | -20 | + | K | UNC | -25 | + | K | DN 5 | |
COUNCIL BLUFFS IA | -30 | + | K | UP 5 | |||||
LINCOLN NE | -35 | + | K | UNC | |||||
BLAIR NE | -23 | + | K | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -10 | + | K | UP 5 | -25 | + | K | UNC | |
SENECA IL | -20 | + | K | UNC | -15 | + | K | UNC | |
SAVANNA IL | -36 | + | K | UNC | -48 | + | K | UNC | |
DAVENPORT IA | -25 | + | K | UNC | -25 | + | K | UNC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | -16 | + | K | UNC | |||||
UNION CITY IN | +2 | + | K | UNC | |||||
ANNAWAN IL | -10 | + | K | UNC | |||||
COUNCIL BLUFFS IA | -22 | + | K | UNC | |||||
SRW WHEAT | |||||||||
TOLEDO OH | -25 | + | N | UNC | |||||
CINCINNATI OH | UNQ | N | UNC | ||||||
DECATUR IN | -45 | + | K | 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 Tom Polansek in Chicago; Editing by Richard Chang)
((Thomas.Polansek@thomsonreuters.com))
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