US Cash Grains-Corn basis steady-weak; farmer selling noted

CHICAGO, Dec 31 (Reuters) - Spot basis bids for corn and soybeans were mostly steady to weaker in the U.S. Midwest on Tuesday, with some brokers noting an increase in farmer selling as Chicago Board of Trade corn futures Cv1 hovered near six-month highs.

* The basis fell by 2 to 3 cents a bushel at corn processing sites in Cedar Rapids, Iowa, and Blair, Nebraska, as well as at a Union City, Indiana, ethanol plant and an elevator at Seneca, Illinois, where grain is loaded onto barges for shipment on the Illinois River toward Gulf exporters.

* The soybean basis weakened at river elevators at Seneca as well as Savanna, Illinois, and Davenport, Iowa, along the Mississippi River.

* One exception to the softer trend in basis was a Cincinnati, Ohio, terminal where the bean basis improved by 2 cents.

* Some locations have rolled their soybean basis to the CBOT March soybean contract SH25 as the January futures contract SF25 nears its Jan. 14 expiration.

* On the CBOT, March corn futures CH25 were up 4 cents at $4.56-1/4 a bushel near mid-session, hovering just below a six-month high set on Monday $4.58-1/2. CBOT March soybeans SH25 were up 9-1/4 cents at $10.01 a bushel. On the last day of the year, CBOT soybean, wheat and corn futures were poised for second straight annual declines as world supplies remained ample, though weather concerns helped prices regain ground at the year's end. GRA/

* U.S. markets and most businesses will be closed on Wednesday for the New Year's Day holiday.

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: 0#USCSHGRN-PM

For U.S. forward basis spreadsheets, please click:

CORN/BASIS, SOYA/BASIS, WHEAT/BASIS, MILO/BASIS

- CBOT corn report COR/

- CBOT soybean report SOY/C

- CBOT wheat report WHE/C

- U.S. grain barge freight values BG/US

- U.S. Midwest cash grain PM GRA/PM

- U.S. CIF/FOB Gulf Grain GRA/F

(Reporting by Julie Ingwersen)

((Julie.ingwersen@thomsonreuters.com; 1-313-484-5283; Reuters Messaging: julie.ingwersen.thomsonreuters.com@reuters.net))