Spot basis bids for corn were mixed in the US Midwest on Tuesday afternoon, while wheat basis bids were up near Chicago, grain merchants said. Corn basis bids firmed by 2-5 cents per bushel in processors and elevators near Chicago, but eased by 2-3 cents at an Indiana elevator and a Nebraska processor.
Wheat basis bids jumped by 5-15 cents at elevators and processors near Chicago. Soya basis bids went down by 5-10 cents at an Iowa elevator and an Ohio elevator near a port.
Many locations updated their soyabean spot basis months from November to January.
Corn futures prices declined back to earlier last week's low. Soya futures prices continued to drop after hitting a two-month high last Thursday.
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