US Cash Grains-Soybean basis bids steady to firmer before weekend
09.10.2023 (Hellenic Shipping News) - Spot basis bids for soybeans were steady to higher in the U.S. Midwest on Friday as farmers focused on accelerating the progress of their autumn harvests, dealers said.
* Grain dealers are waiting for the U.S. Department of Agriculture to issue updated corn and soybean production estimates in a monthly crop report due on Thursday.
* The soy basis rose by 5 cents at an elevator in Sioux City, Iowa, and by 7 cents at a river location near Davenport, Iowa, dealers said.
* The corn basis declined in rail markets in Evansville, Indiana, and Columbus, Ohio.
* Chicago Board of Trade soybean and corn futures fell on forecasts for favorable harvest weather this weekend and due to profit-taking after a rally on Thursday.
Source: Reuters (Reporting by Tom Polansek; Editing by David Gregorio)