Spot cash basis bids for corn and soyabeans were mostly steady around the US Midwest on Friday, as farmers continued to hold on to their harvest, grain dealers said. Farmers and merchandisers were looking forward to Tuesday's USDA monthly supply/demand report. Analysts expect that the US Department of Agriculture will raise its estimates of the US corn and soyabean harvest.
Analysts also expect the government to raise its forecasts of US 2015/16 corn, soyabean and wheat ending stocks. The soyabean basis firmed by 2 cents in Decatur, Illinois, a major soyabean processor site.