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US Midwest corn basis bids were weaker on Thursday after big farmer sales this week, merchants said. Soyabean basis bids were mostly steady along with soft red winter wheat bids. Farmer sales of grain, especially corn, continued but the pace slowed ahead the Fourth of July holiday. Most grain elevators will be closed on Friday along with Chicago Board of Trade futures markets for the holiday weekend. CBOT markets reopen on Sunday night.
The SRW wheat harvest has not yet started in the largest production area of northern Ohio, southern Michigan, stalled by persistent rains in June. Typically, July Fourth marks the start of active harvest. CBOT September corn ended 6 cents at $4.28-1/2; August soyabeans closed 2-1/2 cents down at $10.38-1/4; September wheat ended 2 cents up at $5.90-1/2.

Copyright Reuters, 2015

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