Soyabean basis bids were steady to weak in the US Midwest interior early on Monday, weighed down by recent harvest selling, while corn bids were mostly steady amid quiet movement, dealers said. Soya processor bids fell 2 to 15 cents in Indiana.
Weekend rains caused scattered harvest delays, especially in northern and eastern sections of the Midwest. Private forecaster Meteorlogix said 1 to 3 inches fell in northern Iowa and southern Minnesota, with 0.5 to 2 inches and "locally heavier" amounts in the eastern belt.
Combines might not roll until Tuesday or Wednesday in parts of Indiana and Ohio, merchandisers said.
River bids for both corn and soya remained weak following a steep jump in barge freight costs on Friday, when Hurricane Rita interrupted grain loading operations at the US Gulf.
Damage assessments from Rita were under way but it appeared that grain export facilities along the Texas Gulf escaped major damage.
Farmers remained reluctant sellers of corn as they monitored loan deficiency payments, or LDPs, offered by the government during times of low prices. LDPs for corn ranged from 40 to 46 cents a bushel in the Midwest on Monday.
At the Chicago Board of Trade, corn futures were called to open steady to 1/2 cent per bushel lower, hovering near contract lows as the US harvest continues, traders said.
CBOT soyabeans were called to open 1/2 to 1 cent per bushel lower on seasonal harvest pressure.
CBOT wheat was called to open steady to 1/2 cent lower after Egypt snubbed US wheat over the weekend and instead bought French and Russian wheat at a tender.
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