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U.S. Cash Grains-River bids for corn firm; sales slow

May 4, 2021
finance & economy

Corn bids were steady to weak at processors

CHICAGO- Spot basis bids for corn rose at U.S. Midwest river terminals on Monday morning, grain dealers said.

* The basis strength along rivers stemmed from concerns that production shortfalls in Brazil will boost demand for U.S. supplies on the export market.

* Corn bids were steady to weak at processors, mixed at ethanol plants and flat at interior elevators.

* Soybean bids were mostly unchanged at the region's river elevators, processors and interior elevators.

* Farmer selling was slow, an Iowa dealer said.

* Dealers continued to roll their basis bids for both corn and soybeans to the Chicago Board of Trade July futures contracts from the May contracts

* Although the soybean basis was mostly flat, bids rose by 5 cents a bushel at processor in Decatur, Illinois.