US Cash Grains-Corn, soy basis higher in slow cash trade

CHICAGO, March 6 (Reuters) - Spot basis bids for corn and soybeans tipped higher in the U.S. Midwest on Thursday as farmers declined to sell their crop as futures remained relatively weak.

The soy basis rose at an Illinois processor.

The corn basis rose at an Ohio elevator, Nebraska processor and three ethanol plants. The corn basis fell at an Iowa river terminal.

Chicago soybean, corn and wheat futures rose for a second consecutive session on Thursday to recover further from multi-month lows as signs that Washington may ease tariffs on Canada and Mexico tempered fears about disruption to agricultural trade.

Signs of tariff relief helped Chicago futures rebound from lows on Tuesday when the implementation of U.S. tariffs against Canada, Mexico and China, followed by retaliatory levies from Ottawa and Beijing, rattled investors.

However, the price bounce was not enough to encourage selling.

Chicago Board of Trade May corn futures CK25 were up 10-3/4 cents to $4.66-1/4 per bushel at midday. CBOT May soybeans SK25 rose 15-3/4 cents to $10.27-1/2 a bushel.

Basis values are quoted against CBOT futures in cts/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: 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