US Cash Grains-Corn, soy bids fall as futures slide

Spot basis bids for corn and soybeans ticked lower in the U.S. Midwest on Tuesday as futures slid, though demand for U.S. soybeans in particular remained high.

• Chicago corn and soybean prices fell on Tuesday as better-than-expected U.S. crop ratings weighed on prices that hit multi-month highs in the previous session on strong demand and renewed fighting in the Middle East.
• The U.S. Department of Agriculture on Monday kept condition ratings for the nation's corn and soybean crops mostly steady from the previous week, surpassing analyst expectations in a Reuters poll of 11 analysts.
• Chicago Board of Trade most-active corn futures Cv1 were last unchanged at $4.73 per bushel.
• CBOT most-active soybean futures were last down 5 cents at $12.21-1/4 per bushel.