CHICAGO: Cash basis bids for corn and soyabeans were mostly steady to firm around the US Midwest on Friday, supported by tight seasonal supplies ahead of harvest and as farmers continued delaying sales of each crop, dealers said.

Soya bids were sharply higher at a river terminal in Davenport, Iowa, amid stiff competition from shippers and crushers for any remaining old-crop soyabeans available before harvest gets going in the next three to four weeks.

Bids for soyabeans and corn edged higher at an Illinois River terminal while corn bids also firmed at a closely watched processor in Decatur, Illinois.

Farmers were entrenched on the sidelines, hoping corn futures recovered from multiyear lows and soyabean futures from multimonth lows before resuming sales.

However, some processors and shippers already bought enough of the crops to last until harvest, limiting demand. Corn bids declined at processors in Chicago and Blair, Nebraska.—Reuters