CHICAGO: Soybean spot basis bids at elevators and processors in the US Midwest on Thursday were unchanged to lower after sufficient inventories curbed end-user demand, merchants said.
Soybean farmers and processors are cautiously plotting their next move while tracking dry weather in the Midwest and range-bound soybean futures before the US government's monthly supply/demand report on Tuesday.
Bids for soybeans at Midwest river terminals were steady to up 2 cents per bushel, supported by Wednesday's steady bids for the grain loaded on barges headed for US Gulf coast terminals for export.
Corn bids at processors and elevators were largely unchanged, but down 2 cents at a Cincinnati, Ohio elevator.
Midwest river terminal corn bids for the most part were lower, reflecting similar bids on Wednesday for corn bound for US Gulf shippers.
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