MIDWEST CASH GRAIN - SLOW COUNTRY MOVEMENT
Cash grain dealers reported slow country
movement of corn and soybeans across the Midwest, with even
corn sales from PIK-and-roll activity seen earlier this week
drying up.
    Some dealers said the USDA may further adjust the posted
county price at the Gulf to take into account high barge
freight rates as a way to keep corn sales flowing, but added
the current plan probably will be given a few weeks to see if
it will work as hoped.
    Corn and soybean basis values continued to drop on the
Illinois and MidMississippi River due to the strong barge
freight rates. Toledo and Chicago elevators were finishing
loading the first corn boats of the new shipping season,
supporting spot basis values at those terminal points.

 Reuter
