US Midwest soyabean bids higher

Soyabean spot basis bids were up 10 cents per bushel at an Indiana processing plant on Friday and mostly steady to higher elsewhere in the US Midwest, buoyed by declines in futures that minimized farmer sales, merchants said. Chicago Board of Trade January futures finished 12-1/2 cents lower at $9.86-3/4 per bushel - losses that offset the more modest basis gains.
Farmers, many of whom have finished harvesting a record-large US soya crop, delayed sales in the hopes of selling at higher prices by the end of the year. Soya bids eased by 4 cents per bushel along the Mississippi River in Davenport, Iowa, following weaker bids for beans loaded in barges destined for Gulf Coast export terminals. Corn bids declined at an Iowa elevator and Nebraska processor and were largely flat elsewhere on scattered farmer sales as CBOT December corn settled down 2-1/4 cents at $3.48-1/4 per bushel.