Soyabean spot basis bids held mostly steady around the US Midwest region on Wednesday, and a few farmers sold light amounts of new-crop supplies before the government released its monthly world supply and demand reports, dealers said. Chicago Board of Trade soyabean futures fell more than 1 percent after the government data was released mid-session which halted the new-crop farmer sales, a dealer in Ohio said.
Old-crop soyabean sales remained slow as US soyabean futures values dragged cash prices below most farmers' target of above $15 per bushel. Rail corn basis bids firmed by 2 to 4 cents per bushel in Indiana and Ohio, a dealer said. A corn bid firmed by 1 cent per bushel at an western Iowa processor and by the same amount at an Illinois River terminal. Corn movement has been hampered in recent days by slow farmer sales of the grain as lower Chicago Board of Trade corn futures made cash prices unattractive to farmers.
