US Cash Grains-Corn, soybean basis bids mostly steady-weaker

CHICAGO, May 6 (Reuters) - Spot basis bids for corn and soybeans fell at several processing plants in the U.S. Midwest on Tuesday while basis bids held mostly steady elsewhere, spot checks showed, as farmers focused on spring planting.

The corn basis fell by 6 cents a bushel at Decatur, Illinois, a processing hub, and by 3 cents at a Blair, Nebraska, processing site.

But the corn basis improved by 2 cents at an ethanol plant in Council Bluffs, Iowa.

For soybeans, the basis weakened by 10 cents at a Lafayette, Indiana, crushing facility and by 1 cent at Seneca, Illinois, on the Illinois River.

Warm and dry conditions in the western Corn Belt should promote fieldwork while a few showers were crossing northeast Indiana and Ohio on Tuesday morning.

The U.S. Department of Agriculture said the U.S. corn crop was 40% planted as of Sunday, up from 24% the previous week and ahead of the five-year average of 39%. Soybean planting was 30% complete, up from 18% the prior week and ahead of the five-year average of 23%.

On the Chicago Board of Trade, benchmark July corn futures CN25 were up 1 cent at $4.55-1/2 a bushel as of 10:40 a.m. CDT (1540 GMT), bouncing after a 3% plunge on Monday, while July soybeans SN25 were down 6-1/2 cents at $10.39 a bushel. GRA/

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