CHICAGO: Spot basis bids for corn firmed at elevators, river terminals and ethanol plants in the eastern half of the US Midwest on Wednesday, grain dealers said.
Corn bids were flat at processors around the region.
The soybean basis was strong at processors and river terminals in the East and flat at elevators.
Basis levels for both corn and soybeans were steady west of the Mississippi River.
Farmers sales were slow.
Many growers were waiting to see how their crops looked after an expected heat have hits in the Midwest in the coming days before committing to new sales, an Iowa dealer said.
Farmers were hoping that the market rallies back to levels hit earlier this week after the temperatures cool. Those levels would likely trigger a new round of sales, the dealer added.
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