US Cash Grains-Corn, soy bids rise at processors; farmers bullish about prices

12 Jul, 2019

* Along rivers, the cash basis for corn also was strong while soybean bids were flat.

* Bids for both commodities were unchanged at interior elevators.

* Corn bids were unchanged at ethanol plants.

* Farmers were booking some light sales of old-crop corn, a dealer in northern Ohio said.

* Cash prices in that area were approaching $5 per bushel.

* But the recent futures market strength and appreciation in basis levels has made other many other farmers bullish about prices going forward and shut off country movement.

* A dealer in Council Bluffs, Iowa, said that farmers were calling in to lift agreements they had made to sell when prices hit certain levels.

* Concerns about harvest size also has made farmers wary of booking contracts despite strong cash prices.

Copyright Reuters, 2019

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