US Cash Grains-Corn basis bids steady-firm at ethanol plants, flat-lower at other processors

CHICAGO, May 20 (Reuters) - Spot corn basis bids were steady to higher at U.S. Midwest ethanol plants on Tuesday but steady to lower at other processors, while bids at interior elevators and barge-loading river terminals were largely unchanged, grain merchants said.

• Farmer sales of corn were light as cash prices remained near recent lows.

• Ethanol makers in Union City, Indiana, and in Council Bluffs, Iowa, lifted their spot corn basis bids by 2 cents a bushel. A large corn processor in Decatur, Illinois, cut its spot basis bid by 6 cents on Tuesday morning.

• Spot soybean basis bids were mostly unchanged at Midwest processors and elevators.

• Heavy rain across much of the Midwest farm belt this week stalled planting of corn and soybeans after a strong planting pace so far this season. The U.S. Department of Agriculture (USDA) said 78% of the corn crop was planted as of Sunday, 5 points ahead of the five-year average, while 66% of the soy crop was seeded, 13 points ahead of normal.

• CBOT July corn futures CN25 were up 4-1/4 cents at midmorning on Tuesday at $4.51-3/4 per bushel. July soybean futures SN25 fell 2 cents to $10.48-3/4 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