US Cash Grains-Good demand aids corn, soybean basis bids

CHICAGO: Spot basis bids for corn and soybean at elevators, processors and river markets in the US Midwest were steady to slightly higher on Tuesday after slow farmer sales stirred demand, merchants said.

Farmers curtailed corn and soybean movement with the view that they would receive more money for their grain if Chicago Board of Trade corn and soybean futures can recover from recent lows.

Weather conducive for crop growth weighed on corn and soybean contracts. Corn futures drew more pressure from Monday's better-than-expected weekly condition ratings.

Soybeans at Midwest river terminals were supported by steady to firmer bids as demand picked up for grain loaded on barges headed to US Gulf Coast shipping terminals.