Soyabean spot basis bids were steady to higher at US Midwest processing plants and river terminals on Friday as recent gains in futures failed to entice farmers to sell beans remaining from last year's harvest, dealers said. Bids gained by as much as 7 cents per bushel at a soya processor in Council Bluffs, Iowa, and firmed by 2-4 cents at terminals along the Mississippi and Illinois rivers. Soya basis bids in the US barge export market were the highest since October as supplies tightened ahead of the autumn harvest.
Chicago Board of Trade August soyabean futures gained 5 cents to $9.99-3/4 per bushel at 10:52 am CDT (1552 GMT) but were below the multimonth high of $10.32-1/2 from July 11, and farmers were delaying sales in the hopes for further gains. Corn spot basis bids were mostly flat to narrowly higher at river terminals and ethanol plants as farmer sales remained minimal while supplies were relatively plentiful.
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