The bulk of corn and soyabean spot basis bids at elevators, processors and river terminals in the US Midwest on Tuesday were nominally unchanged as some merchants continue to observe extended Christmas holiday time off, dealers said.

A corn processor in Cedar Rapids, Iowa reduced bids by 2 cents per bushel after shoring up inventory prior to Monday's holiday. Most corn farmers and end-users await direction from holiday range-bound Chicago Board of Trade (CBOT) corn futures.

Copyright Reuters, 2017