Corn futures climbed slightly after hitting a six-month low on Thursday while soyabeans jumped more than 1 percent, nearly whiping out the losses that brought futures to a one-month bottom. But the gains enitced little, if any, country selling, grain merchants said.
Snowfall in parts of the region also cut off access to grain bins while recent snows and rains softened country roads, slowing deliveries of the crops to market as farmers did not want to risk getting their trucks stuck in the mud. Slow export demand for corn and a reduced ethanol grind domestically capped any gains in the basis despite the slow pace of sales and deliveries. Sluggish demand for soyameal and large soyabean export cancellations by top global soya buyer China pressured soya bids earlier this week before they stabilised on Friday.