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Corn and soyabean spot basis bids held mostly steady around the US Midwest on Wednesday as the rapid pace of selling seen earlier this month slowed slightly, grain merchants said. Slow deliveries in some areas of the region also supported bids even as truck deliveries spiked in parts of the eastern Midwest. Warmer temperatures led to improved conditions of what had been icy roadways but melting snow continued to limit access to on-farm grain bins.
Corn bids had a firm tone in the southern US Plains rail market as logistics woes on the nation's railroads kept supplies tight in an area seeing good demand from cattle feedlots. Soyabean bids fell 4 cents per bushel along the mid-Mississippi River in Davenport, Iowa, following a large spike in farmer sales throughout February.

Copyright Reuters, 2014

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