Spot basis bids for soyabeans and corn fell at river terminals in the US Midwest Monday amid rising barge freight, dealers said. Bids at interior locations were mostly steady; farmer selling was slow. But higher CBOT corn, soya and wheat futures in Asian trading could spur movement.
USDA said exporters reported the sale of 155,465 tonnes of US corn to Mexico for delivery in the 2008/09 season starting September 1. The resurgent dollar weakened against the yen and a basket of currencies amid a recovery in oil.
Chicago Board of Trade corn was higher in Asian trading, with September up 11-3/4 cents or 2.2 percent at $5.41-1/2 a bushel. November soyabeans gained 30 cents or 2.5 percent to $12.49 and September wheat rose 10 cents or 1.2 percent to $8/34-1/4.
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