US Cash Grains-Corn, soy bids mixed as futures falter

CHICAGO, Nov 3 (Reuters) - Basis bids for corn and soybeans were steady to mixed in the US Midwest on Tuesday as futures faltered and harvesting wrapped up.

• The US Department of Agriculture on Tuesday reported that exporters sold 315,000 metric tons of US corn to Mexico and 136,000 metric tons to South Korea for delivery in 2026/27. On Monday, the agency confirmed sales of 1.7 million metric tons to Mexico, including 1.1 million tons for 2026/27 delivery.

• However, demand is lagging last year's pace.

• The large US crop also loomed over the market, after the US Department of Agriculture said on Monday that corn harvesting was 74% complete.

• With freshly harvested supplies coming in from farmers' fields, analysts said there were concerns over export demand that is lagging last year's pace.

• The USDA said on Monday that soybean harvesting was 88% complete, ahead of the five-year average of 84%.

• CBOT December corn ended down 5-3/4 cents at $4.42-1/2 per bushel. The contract earlier hit its lowest level since July 2 at $4.41-1/4.

• CBOT January soybeans ended down 2-3/4 cents at $12.14 per bushel and hit the lowest level since August 17.

Basis values are quoted against CBOT futures in cents/bu:

NOTE: 0 = Option Price, UNC = Unchanged, UNQ = Unquoted, NC = Not Comparable, DP = Delayed Price, N/A = Not Available, F = January, H = March, K = May, N = July, Q = August, U = September, X = November, Z = December

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LINKS:

For US forward basis spreadsheets, please click on:

- CBOT corn report COR/

- CBOT soybean report SOY/C

- CBOT wheat report WHE/C

- US grain barge freight values BG/US

- US Midwest cash grain AM GRA/M

- US CIF/FOB Gulf Grain GRA/F