Bids for corn were steady to firm at processors and elevators around the US Midwest on Friday while soyabean bids weakened at river terminals, grain dealers said. Slow corn movement and a weak close in the futures market led some dealers to increase corn bids slightly.
Soyabean bids fell by 2 cents per bushel along the Illinois River and by 4 cents per bushel in Iowa along the Mississippi River. Farmer sales of both commodities were slow following relative robust sales during Thursday's rally in the futures market. Many farmers are still finishing corn and soyabean plantings and want to complete those tasks before selling the rest of their old-crop supplies or locking in prices for the new crop.
Shipping costs were steady to firm on Midwest rivers. Barges were bid at 260 percent of tariff on the Illinois River and 215 on the Mississippi River at St. Louis - both 5 percent points higher than Thursday. Barge bids were unchanged on the lower Ohio River, at 200 percent of tariff.