US Cash Grains-Corn basis eases at processors, ethanol plants

CHICAGO: Spot basis bids for corn eased at several processors and ethanol plants in the US Midwest on Monday, merchandisers said.

The US Department of Agriculture on Friday said that farmers had planted more acres of corn than expected, pushing down corn futures on Friday and Monday.

Farmers still remain reluctant to sell old-crop grain supplies, given widespread planting delays that have raised questions about production prospects.

Warm weather looks favorable for corn and soy crops in the Midwest this week, according to forecasters.