US Cash Grains-Soybean, corn basis bids steady-higher as futures seesaw

CHICAGO, April 28 (Reuters) - Spot basis bids for soybeans and corn were steady to higher in the U.S. Midwest on Monday as futures dropped and farmer selling remained slow, dealers said.

• The spot corn basis bid rose at an Ohio elevator and soybean basis bids rose at an Ohio elevator and an Indiana processor.

• Seeding interruptions for the corn and soy crop are likely to be limited this week as rain peters out, an analyst note said. Drenching rains last week kept many farmers out of the field and caused seeding delays.

• Farmers have been slow sellers as they focus on fieldwork.

• Elevators and processors are beginning to roll their basis bids to July futures contracts from May futures ahead of the upcoming delivery period for May contracts.

• Chicago Board of Trade soybean futures Sv1 were last up 4-1/2 cents to $10.63-3/4 per bushel as of midday.

• CBOT May corn CK25 was steady at $4.85-1/2 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