July 12, 2013
Corn spot basis bids were steady to sharply higher in the western US Midwest on Wednesday as old-crop supplies tightened and farmers delayed sales, grain merchants said. Bids gained 3 cents per bushel at a closely watched processor in Blair, Nebraska, and 10 cents at a nearby elevator in Council Bluffs, Iowa. Bids for the yellow grain also rose at a rail terminal in Hereford, Texas.
Farmers in the southern US Plains will soon begin gathering their corn crop. Existing supplies are very tight in the cattle-producing region and some livestock producers are instead feeding their animals hard red winter wheat. Courtesy Reuters