MIDWEST CASH GRAIN - MODEST MOVEMENT, BIDS FIRM
Country movement of corn and soybeans
increased modestly this morning, and basis bids were steady to
higher, cash grain dealers said.
    Basis bids firmed in response to lower rates for barge
freight, traders said, noting that the Ohio River is swelling
with snow runoff, discouraging barge loadings because of the
high water levels.
    Moderate bookings continued in new crop soybeans, mostly
for January 1988 delivery, with farmers pricing at least a
portion of their crop at five dlrs a bushel or better when bids
emerge at that level, they said.
    Movement in Iowa was expected to slow considerably in the
next few days, as farmers are beginning field work, they said.
    Dealers bid 104 and offered 106 pct for PIK certificates.
 Reuter
