CHICAGO: Spot basis bids for soybeans rose around the US Midwest early on Tuesday as farmers continued to delay sales of crops held in storage, grain dealers said.
* Grain futures prices were rising in a turnaround from recent declines. At 11:30 a.m. CDT (1630 GMT), July soy was up 23-1/2 cents at $8.26 a bushel, and July corn was up 11-1/2 cents at $3.68.
* However, farmers were still generally not selling big quantities of crops from storage because they think prices remain too low, dealers said.
* Instead, farmers were focusing on planting their corn after rain delays and waiting for grain prices to rise even higher before making sales of previously harvested crops, dealers said.
* River terminals in Seneca and Savanna, Illinois, raised their soybean bids, according to grain merchants. Elevators in Cincinnati, Ohio, and Burns Harbor, Indiana, also increased soy bids.
* Corn bids were mixed at river terminals.
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