US Cash Grains-Soybean, corn basis bids steady to firm

CHICAGO, April 3 (Reuters) - Spot basis bids for soybeans firmed at several crushing facilities in the U.S. Midwest on Thursday as Chicago Board of Trade soybean futures fell nearly 2%, discouraging farmer sales of the oilseed.

The bean basis firmed by 5 cents a bushel at processing plants in Morristown and Decatur, Indiana, and in Council Bluffs, Iowa, as crushers worked to draw out soybean supplies.

Spot basis bids for corn were steady to stronger as well, reflecting demand from processors and grain elevators at a time when farmer corn sales remained stagnant, brokers said.

Rains this week slowed early corn planting in the eastern Midwest but added beneficial soil moisture. The National Weather Service posted flood watches on Thursday across much of Arkansas and the Ohio River Valley.

CBOT soybean futures Sv1 sagged on fears that sweeping tariffs announced on Wednesday by U.S. President Donald Trump would hurt export demand for U.S. commodities. But corn Cv1 and wheat Wv1 futures pared losses and turned higher at times in choppy trade. GRA/

As of 12:10 p.m. CDT (1710 GMT), CBOT May soybeans SK25 were down 18 cents at $10.11-1/2 per bushel. May corn CK25 was down 1/2 cent at $4.57-1/4 a bushel and May soft red winter wheat WK25 was down 3/4 cent at $5.38-1/2 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