US Cash Grains-Corn bids unchanged; soy steady to mostly higher

CHICAGO: Spot basis bids on Friday at elevators and processors around the Midwest were unchanged for corn and steady to generally higher for soybeans, grain merchandisers said.

Steady corn bids reflect a rangebound futures market awaiting US harvest estimates from the Pro Farmer newsletter after its four-day annual crop tour.

Soybean bids were underpinned by increased demand for product, stirred by dwindling old-crop supplies and robust export demand.

Bids for corn at river terminals were steady to down as much as 4 cents per bushel, pressured by expectations for a record-large US harvest.

River elevator soybean bids were unchanged.