Spot basis bids for corn and soyabeans were mostly steady at processors and elevators around the US Midwest on Friday in quiet trade, dealers said. Grain buyers characterised trade as quiet with few farmers interested in selling grain or soya. Most stayed out of the market and focused on completing deliveries to fulfill January contract commitments, dealers said.
US corn futures fell to a near two-month low, while US soya futures fell to a three-month low. Continued softness in CBOT corn and soyabeans futures made cash prices unattractive to farmers. A soya bid rose by 3 cents per bushel and a corn bid rose by 2 cents per bushel at an Illinois river terminal. Illinois corn prices face more pain from West Coast port dispute.
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