US Midwest corn bids mixed

Spot basis bids for corn were mixed at processors and ethanol plants, but held steady at elevators around the US Midwest on Monday as farmers were slow to sell crops, dealers said. Weaker US corn futures values kept a lid on corn sales in the cash market, grain merchants said. Front-month July corn futures fell more than 2 percent on Monday.
Corn bids were narrowly mixed at river terminals and ethanol plants as slowed farmer sales were offset by limited demand and plentiful supplies. Soyabean basis bids held mostly steady in quiet trade. US soyabean futures traded higher but farmers waited before selling crops, dealers said. Crops were still being assessed in western portions of Iowa after a strong hail and wind storm caused damage last week, a dealer in Council Bluffs, Iowa said. Soft red winter wheat bids held steady and farmer sales were quiet while harvest is still a couple weeks away, dealers said.