US Midwest corn bids mostly steady in thin trade

Corn spot basis bids held mostly steady in thin trade around the US Midwest region on Friday, dealers said. Grain merchants noted some light farmer crop sales early on Friday but said the pace tapered off into the afternoon. Some farmers sold light amounts of grain early as damp conditions throughout large portions of the region kept farmers out of the fields. Planting activity could again be delayed next week as more rain was forecast for the region over the weekend, dealers said.
Outlooks for cold temperatures stoked mild fears of damage to emerging corn plants in the Midwestern crop belt but forecasts also called for frequent rains that will benefit the crop, more than three-quarters of which was planted earlier than normal. Soya processor and elevator bids were mostly steady to narrowly mixed but not many sales of the oilseed were scheduled, dealers said. The National Oilseed Processors Association (NOPA) reported a monthly crush of 150.363 million bushels, the most ever for April.