US Midwest corn and soya bids steady to firm

Spot basis bids for corn and soyabeans were mostly steady to firm around the US Midwest on Thursday, supported by the continued slow farmer offerings and better demand from elevators, ethanol plants and river terminals, dealers said. Few sales of either crop seen Friday as soya futures eased and corn futures rebounded from a three-week low.
Farmers are in no rush to sell either old- or new-crop supplies unless prices equal or rise to highs set earlier this year. Lower shipping costs on Midwest waterways were also supportive for basis bids at river terminals but steady-weak basis at export markets at the US Gulf limited gains.