US Cash Grains-Some processing plants boost soybean basis bids

CHICAGO, March 14 (Reuters) - Spot basis bids for soybeans were steady to higher at U.S. processing plants in the Midwest on Friday as buyers sought to entice farmers to make sales, dealers said.

Farmers have been on the sidelines in the market, waiting to sell soy and corn as they focus on field work and prepare for spring plantings.

The lack of selling by farmers has kept a firm undertone in the cash markets, brokers said.

A large grain processor in Decatur, Illinois, and a crush plant in Lafayette, Indiana, each increased their spot soybean basis bids by 7 cents a bushel.

Showers in the southeastern and far northwestern Midwest in April should improve moisture as corn planting begins, while drier weather in the Delta would favor corn and soybean plantings, forecaster Maxar said.

Farmers are expected to plant more corn and less soy compared to last year.

Chicago Board of Trade May corn futures CK25 were down 7 cents at $4.58-1/4 per bushel by 12:35 p.m. CDT (1735 GMT). CBOT May soybeans SK25 rose 5-1/4 cents to $10.16 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