US Cash Grains-Corn, soy basis bids ease at some river terminals
DBA•Basis bids weaken at some Midwest river terminals
Spot basis bids weakened for U.S. corn and soybeans at some Midwestern river terminals on Friday, grain dealers said.
- Farmers have sold old-crop corn this week, AgMarket.Net said, boosting available supplies.
- A river terminal in Toledo, Ohio, lowered its corn basis bid by 15 cents per bushel and its soybean basis bid by 5 cents.
- However, a soy processor in Lincoln, Nebraska, hiked its soybean basis by 30 cents per bushel. The facility said it adjusted the basis because of a change in priorities, without elaborating.
- Farmer sales have been slower in some areas as growers wait for higher prices.
- This week, most-active corn futures Cv1 touched their lowest level since July 14, while soybean futures Sv1 set the lowest level since July 6.
