CHICAGO: Cash bids for corn and soybeans weakened at river terminals around the US Midwest on Thursday, grain dealers said.
Bids for both commodities were mostly unchanged at interior elevators and processors.
The corn basis was steady to weak at ethanol processors.
Farmer sales were slow, a dealer in Council Bluffs, Iowa said.
Although the interior basis was mostly flat, corn bids rose by a penny in Cincinnati, Ohio. The soybean basis fell by 3 cents per bushel at the same location.
Weak demand from exporters at the US Gulf weighed on the basis along Midwest rivers.
The US Agriculture Department said on Thursday morning that old-crop corn export sales were a net 200,000 tonnes in the week ended July 11, down 60 percent from a week earlier.
Weekly soybean export sales for the current marketing year came in at 127,900 tonnes.
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