Spot basis bids for corn were up 1-2 cents per bushel at rail markets in the eastern half of the US Midwest on Wednesday as a slow pace of farmer sales left supplies tight for some ethanol makers and animal feeders, grain merchants said. Farmers sold small amounts of harvest to take advantage of the recent rally in corn futures, but the overall volume of sales has been light for weeks, underpinning basis bids. Soyabean bids gained by 1 cent at an elevator in Toledo, Ohio, and were mostly unchanged elsewhere in the region, with fresh sales also minimal.

Copyright Reuters, 2017