CHICAGO: Spot basis bids for corn and soybeans were steady to narrowly mixed in the US Midwest on Wednesday as scattered farmer sales of bumper harvests weighed on cash prices for the crops at some locations, grain merchants said.
However, rains this week in many parts of the region slowed harvest, limiting deliveries of freshly harvested supplies and bolstering bids at some elevators and river terminals.
Dealers continued to roll soybean basis bids to Chicago Board of Trade January futures from the November contract . Several processors in Iowa left their basis the same during the roll, in essence raising their flat-price bid by the 10-cent spread between the contracts.
Source: Brecorder.com
