Soybean, Corn Premiums Rise as Rain Slows Shipping, Farmer Sales
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Cash premiums for soybeans and corn shipped in May to terminals near New Orleans rose relative to Chicago futures as shipping delays and reduced farmer sales tightened supplies.
The spot-basis bid, or premium, for soybeans delivered next month was at 64 cents to 70 cents a bushel above May futures, up from 60 cents to 70 cents yesterday, U.S. Department of Agriculture data show. Corn basis bids rose to 55 cents to 61 cents a bushel above May futures, compared with 54 cents to 57 cents yesterday.