US Cash Grains-Basis bids mostly steady-higher at corn ethanol plants, soy processors

CHICAGO, May 21 (Reuters) - Spot basis bids were mostly steady to higher at U.S. Midwest ethanol plants and soybean crush plants on Wednesday as rising processing rates boosted demand for crops while farmer sales remained light, grain merchants said.

• Spot basis bids for corn and soy delivered to interior elevators and barge-loading river terminals were mostly unchanged.

• Several plants that process corn into ethanol and soybeans into meal and oil have restarted operations after seasonal downtime for maintenance and repairs, traders said. The restarts have boosted demand for raw materials at those facilities, they said.

• An ethanol maker in Union City, Indiana, lifted its spot corn basis bid by 4 cents a bushel a day after raising the bid by 2 cents.

• A large soy processor in Decatur, Illinois, raised its spot basis bid by 3 cents on Wednesday morning after raising the spot bid by 5 cents a day earlier.

• Farmer selling remained light despite more futures price increases on Wednesday as spot contracts were still below recent highs.

• CBOT July corn futures CN25 were up 6-1/4 cents near midday on Wednesday at $4.60-3/4 per bushel. July soybean futures SN25 were up 11-1/4 cents at $10.64-1/4 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