Spot basis bids for corn and soyabeans mostly held steady around the US Midwest on Thursday, supported by sharply lower futures and slow farmer sales of each commodity, grain merchants said. Market remained quiet, with so-called gut slot of harvest still at least a week away. Few country sales seen as corn futures fell 3 percent and soyabeans 1.7 percent.
Soyabean bids faded by 3 cents in Toledo, Ohio, while corn bids edged a penny lower at an ethanol plant in Cedar Rapids, Iowa. Bids held mostly steady elsewhere. Temperatures fell below freezing for the second straight day in the western US Corn Belt, but crop damage was expected to be minimal and the weather should warm up in the next few days, a forecaster said on Thursday.