Spot basis bids for corn and soyabeans were mostly unchanged at processors and elevators around the US Midwest on Wednesday with just a few changes, grain dealers said. A dealer at a river terminal in Toledo, Ohio, said farmers were selling some corn and soyabeans, with corn leading commodities in demand. Farmer selling was fuelled by uncertainty and a need to generate some cash flow, dealers said.
Dealers at a closely watched processor in Decatur, Illinois, said corn basis bids firmed a few cents to help encourage farmer selling and restore supplies. It was the sixth straight session without a decline for front-month CBOT March corn, with the gains of 4.8 percent over that stretch the largest such increase since September. Corn has climbed when many other commodities such as crude oil have tumbled in recent days. Corn this week has gained on soyabeans and wheat in spreading.
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