Spot basis bids for corn were mostly steady in the US Midwest early on Tuesday while soyabean bids were mixed amid moderate country sales of both commodities, grain dealers said. A stretch of mostly dry weather has allowed farmers in Illinois, Indiana and Ohio to harvest late-maturing, double-cropped soyabean fields. Merchandisers in those states said half to two-thirds of their receipts were soyabeans.
"They are out there running hard. They are scared of the rain that's coming on Thursday," a northern Ohio dealer said.
High moisture was still a concern in some areas. Some loads of soya were arriving with up to 18 percent moisture, well above the optimal 13 percent or less, a southern Ohio buyer said.
Soy movement varied. River soyabean bids were down 1 to 2-1/2 cents due to active soya arrivals into the river market. The weak tone pushed the soya basis down 5 cents at Cincinnati.
But elsewhere, soya processors still struggled to purchase fresh supplies. The soya basis firmed 2 cents at Cedar Rapids, Iowa, and Omaha, Nebraska.
"It's quiet. Everybody is frustrated with the markets," an Indiana soya merchandiser said.
The corn basis was flat in most areas, although dealers in the western belt reported active corn harvesting. Storage space was tight as the harvest progressed.
The US Department of Agriculture said the corn harvest was 76 percent complete by Sunday, up from 65 percent last week but behind the five-year corn average of 89 percent.
USDA said the soyabean harvest was 87 percent done, up from 84 percent the previous week but lagging the five-year average of 94 percent.
At the Chicago Board of Trade, corn futures were called to open steady to 1/2 cent per bushel lower on ongoing harvest pressure.
CBOT soyabean futures were called to open mixed, with November up 1 to 2 cents and other months seen 1/2 to 1 cent lower.
Cash bids for soft red winter wheat were steady and country selling remained light. CBOT wheat futures were called to open 1/2 to 1 cent higher.