Soyabean spot basis bids weakened along the Illinois River and at a processor in Decatur, Illinois, on Friday as a futures rally enticed many farmers to sell in the US Midwest, dealers said.
Gains in Chicago Board of Trade soyabean futures pushed cash prices above the target of $10 per bushel in some parts of the region, triggering farmer sales and weighing on bids as supplies swelled at processors and elevators.
Corn spot basis bids were sharply higher in Hereford, Texas, due to higher prices for shuttle train freight, a corn rail trader said.
Corn basis bids also gained for the second time this week at a processor in Blair, Nebraska, as farmer sales of corn remained minimal and CBOT corn futures stayed locked in a relatively tight trading range.
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