US Cash Grains-Corn, soy bids down as buyers roll bids

CHICAGO, April 30 (Reuters) - Spot basis bids for corn and soybeans ticked lower in the U.S. Midwest on Wednesday as buyers continued to roll their basis bids to the July futures contracts from the May contract. Though bids were down, local prices remained effectively steady as the July contract was priced higher than the May contract.

• Farmer selling has remained slow as producers focused on fieldwork.

• Corn and soybeans futures slid, with both markets facing pressure from rapidly advancing U.S. planting and the Washington-Beijing trade war.

• Corn and soybean markets were also pressured by favorable crop weather in South America. Recent showers have eased drought conditions that threatened Brazil's safrinha corn crop, while a dry spell in Argentina is set to help corn and soybean harvesting after heavy rains.

• The USDA said 24% of the nation's corn crop and 18% of soybeans were planted as of Sunday. Analysts had estimated 25% of corn and 17% of soybeans were planted, according to a Reuters poll.

• Exporters sold 120,000 metric tons of corn to unknown destinations, the U.S. Department of Agriculture reported.

• Chicago Board of Trade July soybean futures SN25 were last down 9-1/4 cents to $10.31-3/4 per bushel around midday.

• CBOT July corn CN25 was last up 6-1/4 cents to $4.66-3/4 per 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