Spot cash basis bids for soyabeans on Tuesday at processors, elevators and river terminals in the US Midwest were steady to firmer, with support from sluggish farmer sales that spurred end-user demand, dealers said. A few soyabean farmers wound down operations ahead of the Christmas holiday. Others withheld grain while gambling on better prices if Chicago Board of Trade (CBOT) soyabeans snap back from session lows.
Soyabean bids at a Davenport, Iowa river elevator rose 4 cents per bushel on light farmer sales and steady-to-firmer bids for the grain loaded on barges headed for US Gulf Coast shippers. On Tuesday the US Department of Agriculture said private exporters sold 145,000 tonnes of US soyabeans to unknown destinations for 2018/19 delivery.
Corn bids were generally flat at Midwest elevators, processors and river markets. Bids dipped by 1 cent per bushel at a Cincinnati, Ohio elevator due to adequate inventories, but jumped 6 cents at a Burns Harbour, Indiana elevator as supplies tightened.
Comments
Comments are closed.