US Cash Grains-Corn basis steady to firm, river soy basis easier

CHICAGO: Spot basis bids for corn were steady to firmer in the US Midwest on Tuesday, with the basis strengthening at Decatur, Illinois, a processing hub, merchandisers said.

• The corn basis firmed at a Blair, Nebraska, processing site a day earlier, and bids firmed on Tuesday at ethanol plants in Illinois and Indiana.

• Soybean basis bids were flat to weaker despite a lack of farmer offerings. The basis eased at Morris, Illinois, on the Illinois River, a possible reflection of softening demand from exporters at the US Gulf. CIF soybean bids declined at the Gulf on Tuesday.

  • Rains this week have caused water levels to rise on the Mississippi River at St. Louis, a barge source said, adding that high water could slow barge loading and movement in the area by this weekend. Barge freight costs held steady on Tuesday.