Spot soyabean basis bids were steady to firm in the interior US Midwest on Thursday on a lack of country movement, while corn bids were mixed amid scattered harvest selling, dealers said.
Soy processor bids firmed 2 cents to 4 cents at Morristown, Indiana; Cedar Rapids, Iowa; and Omaha, Nebraska, as crushers tried to draw out supplies from reluctant farmers.
"Beans are still tight. Right now a lot is in the bin, and guys are content to sit on it," an Indiana dealer said.
Damp conditions this week have slowed the last of the soyabean harvest in Illinois and the eastern Midwest. Producers were cutting soyabeans in northern Ohio ahead of rains forecast toward the weekend, while fields in southern Ohio and northern Illinois were still too wet, dealers said.
River soyabean bids were firm, although a decline in CIF values for soyabeans at the US Gulf pressured soyabean futures on Wednesday. Barge freight offers backed off 10 to 20 percentage points late on Wednesday.
RIVER CORN BIDS WERE MIXED: Interior corn bids were mostly steady to weak, with the basis down 2 cents at Lincoln and Omaha, Nebraska.
The corn harvest was progressing, and ground piles of corn were reported in the central Midwest as storage space dwindled. However, corn bids firmed by 5 cents at Cedar Rapids, Iowa.
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