Soyabean spot basis bids were steady to widely mixed in the US Midwest on Thursday as the autumn harvest neared completion in some parts of the region, limiting the flow of fresh supplies coming to market, dealers said. Overall ample stockpiles and largely better-than-expected yields continued to anchor the soyabean basis, with bids tumbling by 10 cents per bushel at a processor in eastern Nebraska.
Many farmers also were selling soyabeans and storing the corn they harvested due to the larger carry in corn futures than in soyabeans, the dealers said. However, strong export demand for soyabeans and good domestic demand for soyameal supported bids despite a large spike in soyabean farmer sales this week.
