CHICAGO: Spot corn basis bids were generally unchanged on Wednesday at elevators around the Midwest, but soybean offers were steady to higher at processors, grain merchandisers said.
Sufficient world and US corn supplies and strong dollar tempered demand for product.
Soybean demand increased from crushers due to dwindling old-crop supplies and competition for beans from exporters.
The US Department of Agriculture said private exporters sold 187,000 tonnes of US soybeans to China for 2016/17 delivery.
A delegation of soybean buyers from China signed agreements late on Tuesday to purchase 146 million bushels, or nearly 4 million tonnes, of US soybeans at a ceremony in Indianapolis, according to the US Soybean Export Council.
Corn basis bids were lower at an Iowa river elevator but unchanged at other terminals.
Soybean bids at river terminals were weakened by less demand for product shipped by barge to the US Gulf Coast as the harvest gets underway in the Mississippi River Delta.
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