CHICAGO: US processors raised spot basis bids for soybeans and cut bids for corn on Friday, grain dealers said, as rains continued to prohibit planting in parts of the Midwest.
Bids for corn and soy were flat to higher at river terminals, traders said.
Bids were underpinned by a lack of heavy selling by farmers, traders said.
Some growers are worried that planting delays may limit how many acres they can put in the ground and the number of bushels per acre they will produce, traders said.
Late planting can reduce yields.
Chicago Board of Trade corn futures pulled back after planting concerns drove prices to their highest levels since 2016, this week.
At 9:25 a.m. CDT (1425 GMT) July corn was down 4 cents at $4.32-1/4 a bushel, and July soybeans were down 1-1/2 cents at $8.87-1/2 a bushel.
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