Spot basis bids for corn and soyabeans held steady at processors and elevators around the US Midwest on Friday. Grain dealers reported scant farmer interest in selling as cash prices were well below target prices. Weakness in futures markets on Friday further eroded cash prices and shut off prospects for farmer sales, a dealer in Decatur, Illinois, said. Sales were expected to remain slow next week as farmers were expected to be busy with planting tasks.
Most growers were unlikely to book new sales until the had finished seeding both corn and soyabeans unless prices rally sharply, dealers said.