Spot corn and soyabean basis bids were generally steady to weak around the US Midwest on Tuesday following active farmer sales as futures prices for both surged during the day, grain merchants said. Chicago Board of Trade corn notched new five-month highs on Tuesday, fuelled by technical buying and short-covering.
CBOT soyabeans scored a near nine-month high supported by chart-related buying and worries over excessive rain in Argentina's crop belt.