Markets

US Cash Grains-Corn, soy basis bids steady on light farmer sales

Published August 18, 2016 Updated August 18, 2016 09:34pm

1 min

By Shoaib Ur Rehman

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CHICAGO: Corn and soybean spot basis bids at elevators and processors around the Midwest were unchanged on Thursday after corn and soybean futures moved up from session lows, minimizing farmer sales, dealers said.

Short-covering and technical buying later lifted Chicago Board of Trade soybeans. Corn landed in positive territory by day's end on consolidation after recovering from seven-year lows last Friday.

Corn and soybean basis bids at a western Midwest river terminal decline 2 cents per bushel as farmer selling subsided.

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