Cash basis bids for corn and soyabeans were largely unchanged in the US Midwest on Thursday as rains delayed harvest in some spots and grain merchants looked ahead to the US Department of Agriculture's quarterly grain stocks report due on Friday. Analysts polled by Reuters expected USDA at midday (1600 GMT) on Friday to show stocks of corn, soyabeans and wheat as of September 1 larger than at the same time in 2015.
Soyabean spot basis bids eased along the Mississippi River in Davenport, Iowa, pressured by impressive yields and abundant supplies during the autumn harvest. Strong export demand has supported soya bids despite the harvest pressure, however, river levels were rising and a few locks were expected to close on the Mississippi River in the coming days, likely halting barge traffic temporarily and limiting supplies that river terminals could accept. Corn spot basis bids were mostly steady but fell at a western Iowa elevator and eastern Nebraska processing plant.
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