US Cash Grains-Eastern soybean basis firm; sales remain slow

CHICAGO: Spot basis bids for soybeans rose at processors, elevators and river terminals east of the Mississippi River on Tuesday, with the basis underpinned by slow farmer sales in recent weeks.

Soybean bids were unchanged in western areas of the US Midwest.

Corn bids were flat at processors and steady to firm at interior elevators, rising by 10 cents per bushel in Cincinnati, Ohio.

Corn bids were mixed along rivers and at ethanol plants.

Farmer sales remained slow on Tuesday morning.

Weakness in the futures market was cutting into cash prices that were already too low to spark farmers' interest in booking new deals.