pot corn and soyabean basis bids were generally steady to weak around the US Midwest on Wednesday as surging futures prices for both generated more active farmer selling, grain merchants said. "The phones haven't been quiet but the basis has been. There's some old and new crop stuff coming out of the woodwork at these levels," a merchandiser said.
Chicago Board of Trade corn hit its highest level in 6-1/2 months, driven by increased export business and buying by funds and technical-oriented traders. Soyabeans at the CBOT notched a fresh eight-month high on fund buying and excessive moisture in Argentina.
Comments
Comments are closed.