Soybean basis bids mostly steady to higher as harvest progresses

Soybean basis bids were mostly steady to higher at processors and river terminals in the U.S. Midwest on Friday as grain dealers sought to buy supplies from farmers who are harvesting their fields.

The soybean basis rose at processors in Decatur, Illinois, and Lafayette, Indiana. It also rose at a river terminal in Davenport, Iowa.

A processor in Cedar Rapids, Iowa, raised its corn basis.

Warm and dry weather is helping farmers to advance their harvests throughout the Midwest.

U.S. soybean futures were little changed on Friday as pressure from a fast-advancing U.S. harvest offset support from hopes that upcoming U.S.-China talks could revive stalled soybean trade.

Corn edged lower on the prospect of rising supplies from a likely record-large U.S. crop.
Source: Reuters