Spot basis bids for corn and soyabeans were mixed in the interior US Midwest early on Monday as scattered country sales pressured values in a few areas after a busy harvest weekend, dealers said. Soybean movement picked up after mostly dry weekend weather allowed producers in Illinois, Indiana and Ohio to combine late-planted soyabean fields.
"We ought to see a lot of beans here in the next three days," a northern Ohio dealer said.
Interior soyabean bids were mixed, with the basis dropping 5 cents late on Friday in Decatur, Illinois. Crusher bids were steady elsewhere, and shippers raised the soya basis 3 cents in Burns Harbour, Indiana.
River soyabean bids eased, reflecting increased soyabean movement into the river market and a drop late last week in the CIF soya market at the US Gulf. CIF soya values were steady to weak on Monday.
River corn bids were steady to weak but CIF values for corn firmed on Monday as a rise in barge freight costs limited corn arrivals at the Gulf.
Interior corn bids were steady to firm, with the basis climbing 3 cents at Lincoln, Nebraska, Decatur, Illinois, and Cedar Rapids, Iowa. Corn sales were light, as farmers eyed premiums for corn delivered later in the year.
At the Chicago Board of Trade, corn futures were called to open 1/2 to 1 cent lower.
CBOT soyabean futures were called to open 2 to 3 cents lower.
Cash bids for soft red winter wheat were steady and country offerings remained light. CBOT wheat futures were called to open 1/2 to 1 cent lower.
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