Soyabean spot basis were mixed in the US Midwest early Friday while corn was mostly steady, with farmers unwilling to sell either corn and soyabeans as the CBOT futures market was closed, dealers said.
US futures trading was shut for the state funeral of former US President Ronald Reagan.
Several Midwest cash elevators will be closing around noon CDT (1700 GMT).
Overnight CBOT screen trade was open until 6 am. But the settlement price from Thursday will be used to settle contracts traded during this abbreviated session, the CBOT said on its Web site.
For last night's trading, CBOT July soyabeans closed at $8.44 per bushel, down 3 cents, but were settled at $8.47. November soyabeans closed at $6.54, down 9-1/2 cents, and were settled at $6.63-1/2.
CBOT July corn closed down one cent at $2.84-3/4 and settled at $2.85-3/4 and December corn closed down 1-1/4 cents at $2.89-1/2 and was settled at $2.90-3/4.
CBOT July wheat closed down 1 cent at $3.49-1/2 and was settled at $3.50-1/2 and the December wheat contract was unchanged at $3.72. "With the markets closed no one is calling in," one Ohio dealer said.
Several Midwest locations firmed their spot soyabean bid again on Friday, trying to source fresh supplies. That has been a trend all week, with some Indiana processors posting 90 cents over, up 5 cents overnight. But crushers in Des Moines, Iowa, backed off their spot bids by 5 cents after firming them over the past week.
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