Spot basis bids for corn were steady to higher in the US Midwest on Wednesday afternoon as harvest neared completion, grain merchants said. Corn basis bids increased at elevators in Indiana and Iowa and at a Nebraska processor. Bids increased by 2 cents per bushel along the Illinois River but went down by 1 cent along the Mississippi River.
Soyabean basis bids went up 7 cents per bushel at Decatur, Illinois, a key location. Soya bids also went up by 3-5 cents at a river terminal along the Mississippi and the Illinois rivers. US soya exporters sold 165,000 metric tons to China. Futures prices for corn and soyabeans fell although they were supported by the slower farmer sales.