US corn and soyabean basis bids were steady to firm on Friday afternoon after the slightly higher futures close, but merchandisers reported no pick-up in this week's slow farmer selling with most producers busy in fields planting corn.
Continued weakness in barge freight rates with receding high water in most locations underpinning river bids, especially on the Illinois and mid-Mississippi for corn, merchants said.
Barges at St. Louis with 14-foot drafts were offered 15 points lower on Friday at 350 percent of tariff, shippers said. Davenport, Iowa, and south were offered at 425 percent, also down 15 points. Lower Ohio offers were at 350 percent, unchanged.
Corn processors bids were nominally unchanged ahead of the weekend after CBOT May corn closed up 3-1/2 cents at $3.79-3/4 a bushel. But some Iowa processors were said to be short corn and the best bid at Davenport rose 2 cents at 3 under CBOT May.
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