US Cash Grains-Corn, soy, wheat bids firm as farmer sales lag

CHICAGO: Spot cash basis bids for corn, soybeans and soft red winter wheat firmed in much of the US Midwest on Friday as a slow pace of farmer selling fell short of processor needs, merchandisers said.

* The wheat basis jumped this week in Toledo, Ohio, reflecting demand from flour millers worried about the size and quality of the 2019 soft red winter wheat crops in the US Midwest and Ontario, Canada, where conditions have been excessively wet.

* Basis bids also firmed at several corn and soybean processing sites.

* Farmers were aggressively planting soybeans in dry pockets of Indiana, one broker said.

* Ahead of the US Department of Agriculture's monthly supply/demand report on June 11, analysts surveyed by Reuters on average expected the government to lower its yield forecasts for the 2019 US corn and soybean crops.