CHICAGO: Soybean spot basis bids were firm at US Midwest processing plants and on the Mississippi River on Thursday, supported by recent downturn in futures and subsequent slowdown in farmer sales of the oilseed, dealers said.
* Corn bids eased at river terminals around the region and rose modestly at an ethanol plant in western Iowa.
* Farmers remained on the sidelines and were preparing to plant corn in the coming weeks. Rain and cold temperatures have delayed plantings in all but a few isolated areas of the southern Midwest.
* Soybean futures are trading near at the lowest price in about a month, chilling any selling interest from farmers.
* Few corn sales seen either as most growers are bullish even as futures have fallen more than 4 percent since hitting a record earlier this week.
* US corn exports last week jumped 36 percent as high prices and the tightest stocks since the 1930s have done little to curb demand for the feed grain. Soybean exports missed trader expectations while wheat sales fell within estimates.
* NOPA early on Thursday put the soy crush in March at 134.391 million bushels, up from 124.884 million in the previous month.
* CBOT corn and soybean futures seen lower on pressure from losses in crude oil. Wheat called lower on forecast for rain in US Plains.
* CBOT corn was called to open 6 to 8 cents per bushel lower, soybeans down 10 to 12 cents and wheat down 12 to 15 cents.
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