US Cash Grains-Corn, soy bids mostly steady in slow farmer selling

CHICAGO: Spot basis bids for corn and soybeans held mostly steady in the US Midwest on Monday as futures for the crops declined and farmers largely delayed sales, grain merchants said.

Farmers who have sold large amounts of what they intended to harvest this autumn were reluctant to add to those sales as Chicago Board of Trade corn and soy futures hovered near multimonth lows.

But with growing conditions mostly beneficial to developing plants, grain buyers were unwilling to boost their bids deespite the slow pace of sales.