Spot basis bids for corn were weaker in the US Midwest on Monday as farmers wrapped up the soyabean harvest and began bringing in more corn, dealers said. Soyabean basis steady to firm; some crushers firmed their bids to draw out fresh supplies and get caught up on soyameal commitments. Dealers reporting active sales of corn and moderate sales of soyabeans.
River bids firmed for corn and soya as barge freight eased. Offers on Illinois River for this week quoted Friday at 445 percent of tariff, down from 450 a day earlier. Light rain slowing harvest in north-central Indiana; more rain falling along Mississippi River south of Davenport, Iowa. Trade expecting USDA late on Monday to show US corn harvest 50 to 60 percent complete. Trade expecting USDA late on Monday to show US soyabean harvest 90 to 92 percent complete. CBOT soyabeans were called 7 to 10 cents per bushel higher, corn up 5 to 7 cents and wheat up 6 to 8 cents.
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