Spot basis bids for corn and soyabeans were mostly unchanged at elevators and processors around the US Midwest on Wednesday, grain dealers said. A grain dealer at a Toledo, Ohio river terminal cited limited sales by farmers, but one farmer was willing to deliver grain. Selling by farmers should pick up at the beginning of the year to jumpstart a new tax year, dealers said.

Corn basis bids firmed 2 cents at a river terminal in Morris, Illinois, while soyabeans fell by 1 cent at that same location. With one trading day left in 2015, corn was on track to end the year down nearly 10 percent, its third straight annual decline. Prices have eased each year since a drought in 2012 pushed corn to a record of $8.49 per bushel, enticing farmers around the world to boost plantings that resulted in the current supply glut. Trade expects the USDA on Thursday to report export sales of US soyabeans in the week to December 24 at 1.0 million to 1.4 million tonnes.

Copyright Reuters, 2016