Spot corn basis bids were mostly higher on Friday amid slow farmer selling, demand from ethanol makers and as barge freight eased, grain merchants said. Soyabean basis bids were steady to higher, with river bids in Illinois and Iowa rising 12 to 16 cents a bushel amid strong export demand and the slip in barge freight.
Merchants said ethanol makers were bidding aggressively for corn, paying premium prices to compete with elevators. Barge freight bids for next week eased 25 percent of tariff at St Louis, and 75 percent of tariff on the Lower Ohio River. Bids were steady on the Illinois River. Barge freight had fallen sharply since rising to record highs early this week amid increased grain movement.
Traders awaiting Monday's USDA crop report for price direction. The dollar fell against the euro after data showed steep US job losses in the last three months. CBOT December corn settled down 2-1/2 cents at $3.75-1/2 per bushel; January soyabeans rose 15 cents to $9.21; December wheat fell 1-1/2 cents to $5.21.
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