Soyabean spot basis bids firmed by 1 cent along the Illinois River on Friday while bids for soyabeans and corn were largely unchanged elsewhere in thin trading ahead of the New Year's Day holiday, grain merchants said.
An elevator in Burns Harbor, Indiana, rolled its soyabean basis to Chicago Board of Trade March soyabean contract from the January contract. The spread between the two contracts climbed this week as traders exited positions in January soyabean futures.
Corn bids steadied after rising in recent days at some processors and river terminals as farmer sales of both corn and soyabeans remained slow during the holiday season.
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