(NAFB.com) – Spot basis bids for soybeans at U.S. Midwest elevators and processing plants rose slightly Wednesday even as farmers held off on sales, traders said. The uptick comes amid a broader pullback in cash sales, as growers await improvements in futures prices before committing grain. Corn basis bids also trended steady to higher at ethanol plants and elevators, while bids fell or stayed flat elsewhere. Some market observers linked the cautious seller behavior to the upcoming “bridge payment” announced by USDA, noting that additional cash flow to farms may encourage growers to delay sales until conditions improve. That dynamic underscores lingering uncertainty in the U.S. grain markets, even as some external demand, including recent shipments to China, helps support hopes for firmer prices before spring planting.
