date:Jul 02, 2014
US FOB Gulf soybean basis offers were mostly 5 cents to 15 cents a bushel higher after the sharply lower futures close on Monday's USDA crop report, with wheat and corn offers steady to firm as merchants tried to find new export demand, traders said.
USDA's June acreage and stocks report issued at midday set the tone and sent futures spiraling lower. USDA raised soybean plantings 3.3 million acres from its March figure, while corn and soybeans June 1 stocks were at the high end of estimates. C