US Midwest soya bids slightly lower

Soyabean spot basis bids were slightly lower along US Midwest river on Wednesday, pressured by recent farmer sales and declining in sympathy with bids in the CIF barge market, grain merchants said. Bids of 35 cents per bushel above futures for barges of soyabeans bound for the US Gulf Coast were hovering at the lowest levels since 2011 as international buyers turned attention to freshly harvest supplies offered out of Brazil.
Overall ample global soya supplies, coupled with the highest futures prices since October, also weighed on US soya differentials. The soya basis fell by as much as 4 cents per bushel along the Mississippi River in Davenport, Iowa, while the basis was largely unchanged at processors and elevators.