US Cash Grains-Corn basis bids mixed, easing in a few locations

CHICAGO: Spot basis bids for corn were mixed in the US Midwest on Monday, with values softening in a few locations after firming last week on robust demand for old-crop supplies and a lack of farmer offerings, merchandisers said.

Soybean basis bids were mostly steady with a few mixed changes.

Ahead of the US Department of Agriculture's weekly crop progress report, analysts surveyed by Reuters on average expected the government to report the corn crop as 96pc planted and the soybean crop as 88pc planted.

Analysts on average expected the USDA to rate 59pc of both crops in good to excellent condition.