US Midwest soya and corn bids lower

Spot soyabean and corn basis bids were steady to lower at elevators and processors around the US Midwest on Thursday in very light trade, dealers said. Dealers noted very light corn movement as farmers move remaining bushels from storage to prepare for fall harvest. A rail broker also noted light corn movement from commercial elevators for shipment south to Texas, largely cattle feeding areas.
Soya trade was quiet as farmers have already sold most of their old-crop soyabean supplies and were not aggressively booking sales of new-crop supplies, dealers said. Several locations rolled their soyabean bids to the Chicago Board of Trade November contract from the August.