Corn and soyabean spot basis bids were flat in most of the US Midwest interior on Thursday and country selling was quiet as farmers in eastern areas focused on planting and fieldwork, dealers said. Producers in northern Ohio were actively seeding corn and starting on soyabeans, one merchandiser said.
But farmers in western Iowa were idled by heavy rains earlier this week. "They haven't been in the fields for a week," said a merchandiser in the area. Dealers in a few areas have started rolling their cash basis bids to post against CBOT July corn and soyabean futures as the delivery period for CBOT May approaches. First notice day for CBOT May deliveries is April 30.
River bids for corn and soya were steady. Barges for this week offered on the Mississippi River at St. Louis at 260 percent of tariff, unchanged from Wednesday. Spot corn basis offers at the US Gulf CIF market were steady to firm while CIF soyabean offers for May were stronger at midday. Exporters appear to be filling near-term loading needs after recent active export sales, traders said.
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