US Cash Grains-Corn, soy bids tick up as farmer selling halts

CHICAGO, March 27 (Reuters) - Spot basis bids for corn and soybeans were steady to higher in the U.S. Midwest on Thursday as buyers were willing to pay premiums for corn and soy while farmer selling ground to a halt, dealers said.

Spot corn bids increased at an Ohio elevator and two Indiana ethanol plants.

The soybean basis increased at an Indiana processor.

Producers have been reluctant to sell their crop amid preparations for spring planting and low prices.

The U.S. Department of Agriculture reported a net 1,039,600 metric tons in U.S. corn sales for the 2024/25 marketing year, on the high end of analyst expectations.

The USDA reported a net 338,500 metric tons of U.S. soybean sales for the marketing year, on the low end of analyst expectations.

Grains futures have seesawed ahead of the USDA's quarterly stocks and planting intentions reports on Monday.

Chicago Board of Trade May corn futures CK25 were down 2-1/4 cents to $4.49 per bushel as of midday. May soybeans SK25 were up 14-1/4 cents to $10.15 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