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US Midwest corn bids mixed

Spot corn bids were mixed around the US Midwest on Monday after the US government released key crop data, dealers said. Farmers sold early before the reports were released. An Illinois grain merchant noted very light farmer sales after the reports were released but most merchants said sales tapered off after the data.

Corn bids rose at scattered eastern Midwest locations. A corn bid rose 1 cent per bushel at a Toledo port, while an Indiana rail bid rose by 2 cents per bushel. A river bid at Morris, Illinois rose by 5 cents per bushel. Bids for corn in the western Midwest fell by 5 cents to 6 cents per bushel. Soya bids were mostly steady. Chicago Board of Trade corn futures finished narrowly higher on Monday, reversing earlier losses after the US Department of Agriculture reported that domestic supplies were smaller than analysts anticipated, traders said. US soyabean futures on the Chicago Board of Trade fell more than 3 percent on Monday after the US Agriculture Department raised its estimates of US and Brazilian soya production, traders said.

Copyright Reuters, 2015