US Midwest corn basis bids were steady to firm and soyabeans were steady Thursday afternoon with a firm tone in eastern rail corn market as Southeast feed mixers showed demand, merchants said.
Farmer sales throughout the belt were slow because of fieldwork but movement was slow even in wet spots, merchants said. Planting activity was noted around Decatur, Illinois, on Thursday. Rail corn was bid up 3 cents in Evansville, Columbus and Cincinnati terminals with merchandisers noting slow movement. Corn bids were firmer in Iowa as well. Soyabean basis offers were mostly steady with many processors covered for spot needs. Some plants are scheduling downtime after the record March crush built up meal and oil supplies.
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