Spot basis bids for corn and soyabeans were steady to higher in the US Midwest on Thursday, while several locations shifted basis months, grain merchants said. River soya bids went up by 4-7 cents per bushels along the Illinois and the Mississippi rivers. Soya bids also went up by 5 cents at an Iowa elevator.
Corn basis bids went up at a Nebraska processor and elevators near Chicago. Soya futures continued to slip but by a smaller margin compared to previous sessions, while corn futures dropped. Wheat futures extended its losing streak to six sessions in a row. "Wheat prices could be better," said an Ohio grain merchant who was more concerned about corn and wheat than soyabean prices.