CHICAGO: Spot basis bids for corn were steady to firmer in the US Midwest on Tuesday, with the basis strengthening at Decatur, Illinois, a processing hub, merchandisers said.
The corn basis firmed at a Blair, Nebraska, processing site a day earlier, and bids firmed on Tuesday at ethanol plants in Illinois and Indiana.
Soybean basis bids were flat to weaker despite a lack of farmer offerings. The basis eased at Morris, Illinois, on the Illinois River, a possible reflection of softening demand from exporters at the US Gulf. CIF soybean bids declined at the Gulf on Tuesday.
Rains this week have caused water levels to rise on the Mississippi River at St. Louis, a barge source said, adding that high water could slow barge loading and movement in the area by this weekend. Barge freight costs held steady on Tuesday.
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