US Cash Grains-Corn, soybean bids generally flat/weaker

CHICAGO: Corn basis bids at processors, elevators and river terminals in the US Midwest for the most part were unchanged to modestly lower on Monday, dealers said.

Adequate corn supplies kept a lid on most bids in the Midwest. But some bids were underpinned by spotty sales by farmers holding out for better money for their crops after weather worries boosted Chicago Board of Trade corn futures.

Tepid demand for soybeans destined to the US Gulf coast dropped bids at a river elevator at Seneca, Illinois, by 5 cents per bushel. A Davenport, Iowa, terminal upped bids by 2 cents to shore up inventories.