Spot basis bids for corn fell at railroad terminals on Wednesday but held steady at other locations around the US Midwest, grain dealers said. Cash bids for soyabeans were mostly unchanged at elevators and processors around the region. Farmer selling was slow despite a futures market rally that pushed cash prices for both commodities higher.
Some rainstorms around the Midwest muddied fields and further delayed corn planting, which was running well behind schedule in many areas. Many growers were not planning on doing any grain marketing until after corn planting is finished, grain dealers said. Although the soyabean basis was mostly steady, bids fell by 10 cents per bushel in western Iowa. Cash bids for soyabeans rose by 5 cents per bushel in central Indiana. Barge freight rates were steady to slightly firmer on the spot market on Wednesday.
On the Mississippi River at St. Louis, barges were bid at 325 percent of tariff, unchanged from Tuesday. Bids for barges were unchanged at 340 percent of tariff on the lower Ohio River.
Comments
Comments are closed.