Spot basis bids for corn and soyabeans were mostly steady across the US Midwest on Monday as farmers held off on selling crops ahead of monthly data from the government, dealers said. The US Department of Agriculture is scheduled to release its March supply and demand crop reports at 11 am CDT (1600 GMT). Dealers said farmers had sold large amounts of both corn and soyabeans in the last two weeks on market rallies and were waiting for the reports before booking additional sales.
Some farmers hoped to sell additional amounts of grain in the coming weeks before focusing on planting tasks, dealers said. Moderating temperatures across much of the region allowed for easier grain movement. Shipments have been slowed throughout the winter due to cold weather, ice and snow. Corn bids fell by 2 cents per bushel at an Indiana ethanol plant.
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