Corn spot basis bids were mostly steady to firm at US Midwest ethanol plants, processors and river terminals on Friday, supported by slow farmer sales of the grain, dealers said. Soyabean bids eased at processors and elevators in the western Midwest and were steady to higher in the eastern part of the region.
Light corn sales noted in western Corn Belt, where many farmers were finished or nearly done with spring plantings. But sales overall were slow, especially in Ohio, where heavy rains stalled seedings. Corn and soyabean futures ended the week nearly unchanged from a week ago while soft red winter wheat futures rose about 1.6 percent in the second week of strong gains. Corn bids surged 13 cents at large eastern Nebraska processor and rose by a penny on the Mississippi River.
Barge freight was steady on the Mississippi but higher on the Illinois and lower Ohio rivers. Soyabean processor bids tumbled early Friday in Iowa and Nebraska following a rash of country sales after cash prices topped $14 per bushel. SRW wheat bids were flat. CBOT soyabean futures eased Friday on pressure from forecast for better planting weather next week while corn and wheat futures rose on support from strong cash markets.