US Midwest corn, soya bids mostly steady

Soyabean spot basis bids were mostly steady on US Midwest on Friday while some farmers sold light amounts of soyabeans as US soya futures edged higher, dealers said. The higher US soya futures lifted cash prices to a range farmers were interested in, dealers said. A river terminal in Morris, Illinois slashed its soya bid by 6 cents per bushel.
In Toledo, a few farmers sold new crop soya as prices reached $9.40 to $9.41 per bushel, a dealer said. Most farmers have a target price of $10 per bushel but some were willing to sell as close to that price as possible on concerns prices could fall later, dealers have said. Corn bids also held steady while cash trade was largely quiet around the region, dealers said. Grain deliveries slowed as cold weather made movement challenging.