Spot basis bids for corn and soyabeans were mostly steady on Thursday at processors, elevators and ethanol plants around the US Midwest, as largely quiet trade kept grain movement slow, dealers said. New-crop sales were largely non-existent on Thursday and expected to remain so for the remainder of 2011, dealers said.
Most producers have enough cash for the year, but some may sell a few loads if financial obligations arise before the end of the year, dealers said. A corn bid gained 2 cents at a processor in north-eastern Nebraska, but fell by 8 cents at an ethanol plant central eastern Nebraska. A wheat bid in northern Ohio improved by 10 cents, while soya bids held largely steady.
Deliveries were slow to a terminal in northern Ohio as rain and wet conditions continue to delay the remaining corn harvest in the western Corn Belt. Producers there hoped for a freezing weather with no more additional precipitation to allow them to move machinery back into the fields, a dealer in northern Ohio said.
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