US Midwest soyabean bids steady to firm

soyabean
soyabean

October 25, 2013

Spot basis bids for soyabean were steady to firm around the US Midwest on Wednesday, with dealers at processors boosting their basis to try and drum up harvest supplies while elevator dealers left their bids mostly unchanged. Sales from farmers were spotty despite the ongoing harvest of what is expected to be a large crop. Cash bids for corn were mixed, rising by as much as 13 cents a bushel in Decatur, Illinois, but falling by 5 cents a bushel in Blair, Nebraska.

Dealers have reported few sales of corn right off the combine as most growers were content to put newly harvested supplies directly in storage bins. Some rain and snow in key production areas have slowed harvest during the past few days. Chicago Board of Trade corn futures closed firm on Wednesday on a round of short-covering. The most-actively traded December contract gained 4-1/2 cents to $4.42-3/4 a bushel. CBOT soyabeans rose to a three-week high on strength in the cash market. CBOT November soya ended 7-3/4 cents higher at $13.10 a bushel. Courtesy: Reuters

Soya, Soyabean, World News,
Published in ZaraiMedia.com
Soya, Soyabean, World News,

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