US Cash Grains-Corn, soy basis mostly flat; rains stall field work

CHICAGO, April 4 (Reuters) - Spot basis bids for soybeans and corn held mostly steady in the U.S. Midwest on Friday afternoon, underpinned by a slow pace of farmer grain sales this week.

The exceptions were Davenport, Iowa, on the Mississippi River, where the soybean basis fell by a nickel per bushel, and Columbus, Ohio, where the basis for railcars of corn fell by 4 cents.

Chicago Board of Trade soybean futures Sv1 fell to 3-1/2-month lows below $10 a bushel, chilling farmer offerings of the oilseed. Futures tumbled after top soy importer China said it would impose additional tariffs of 34% on all American goods in retaliation against duties announced by President Donald Trump. GRA/

However, CBOT corn futures Cv1 ended higher for the week. Corn is seen as less vulnerable to China's tariffs, and export demand for U.S. supplies has been brisk.

Rains continued to stall early corn planting in the eastern Midwest. The National Weather Service posted flood watches and warnings on Friday afternoon from Arkansas and western Tennessee through the Ohio River Valley.

The U.S. Department of Agriculture is scheduled to release its first weekly crop progress report of 2025 on Monday, which could include an estimate of U.S. corn planting progress.

CBOT May soybean futures SK25 settled down 34-1/2 cents at $9.77 a bushel while May corn futures CK25 ended up 2-3/4 cent at $4.60-1/4 a bushel.

Basis values are quoted against CBOT futures in cents/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-AM

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

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 AM GRA/M

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