Spot basis bids for corn and soyabeans at elevators and processors around the US Midwest on Wednesday were steady to higher due to declining grain sales before the US Thanksgiving Day holiday, merchants said on Wednesday. Farmers also delayed selling soyabeans while betting on better money for their crop as Chicago Board of Trade (CBOT) soyabean futures rose on technical buying. Range-bound corn contracts offered farmers no incentive to move grain.
CBOT grains will close at the normal time on Wednesday and remain closed for Thursday's holiday. Trade resumes on Friday at 8:30 am CST (1430 GMT) but markets will close early at 12:05 pm CST (1805 GMT).