US Cash Grains-Corn and soybean basis bids mixed

CHICAGO: Spot basis bids for corn were mixed in the US Midwest on Thursday, reflecting tight supplies in a few areas, grain merchandisers said.

The corn basis firmed by a nickel at one Indiana ethanol plant, but fell at an Illinois ethanol site as well as a Nebraska corn processing plant.

Soybean bids were mostly steady but showed mixed changes at Midwest river elevators, including an 8-cent increase at Savanna, Illinois, and a 4-cent decrease at Davenport, Iowa, both located along the Mississippi River.

Farmer offerings of both commodities were light as producers awaited more information on 2019, harvest prospects.

Chicago Board of Trade corn and soybean futures were modestly higher on Thursday while wheat futures drifted lower.