Corn and soyabean basis bids at US Midwest locations were mixed on Monday amid quiet farmer sales of both crops, grain dealers said. Some Midwest processors raised their spot soyabean bid 2 cents to 5 cents since late last week, including the big crusher IN Decatur, Illinois, which boosted its spot bid by 2 cents to 37 cents over CBOT July soya futures on Friday afternoon. But a Lafayette, Indiana dropped its spot soyabean bid by 10 cents to 25 cents as it plans to take seasonal downtime this week, grain dealers said.
River bids for both corn and soyabeans slipped, with barge freight quoted steady to softer for shipments this week. Barge freight was steady on the Mississippi and Ohio rivers, while Illinois freight fell 5 points, bid at 355 percent of tariff, according to shippers. Heavy rains across the eastern Corn Belt over the weekend, with several locations getting 3 to 5 inches, meant several farmers would be replanting, dealers said. CBOT July corn was down 1/4 cent at $3.51-1/4 a bushel by 10:50 am CDT. July soyabeans were down 5 cents at $9.29.
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