US Midwest corn firm, soya steady

01 May, 2004

US Midwest corn basis bids were firmer on Friday as farmers remain preoccupied on field work and not selling corn, while soyabean bids were mostly steady after strengthening the day before, dealers said.
Some dealers saw fresh sales of old-crop soyabeans on Thursday after the market popped back over $10 per bushel.
But it wasn't enough in the western belt where Nebraska elevators firmed their spot soyabean bids 3 cents per bushel trying to meet processor demand.
"It's been dead around here," one central Iowa river dealer said.
Farmers continue to take advantage of the weather and plant corn. Cooler weather was moving into the northern and western sections of the belt along with showers, which could slow some planting. But fieldwork is far ahead of the usual pace, so there were few concerns about getting corn planted on time.

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