US Cash Grains-Corn, soybean basis bids mostly steady-higher at Midwest elevators

CHICAGO, May 22 (Reuters) - Spot corn and soybean basis bids were mostly steady to higher on Thursday at U.S. Midwest interior elevators and river terminals and unchanged at processing plants, grain merchants said.

• Selling by farmers was minimal despite rising futures prices as cash values remained below recent highs.

• Wet field conditions around much of the Midwest kept farmers sidelined on Thursday after better weather earlier in the spring allowed for accelerated planting of corn and soybeans.

• More rain is forecast for the Tennessee Valley and Ohio River Valley early next week, but the rest of the Midwest was expected to be cooler and drier than normal.

• Weekly U.S. corn export sales in the week ended May 15 fell to a three-week low, while soybean sales were the lowest in four weeks, according to U.S. Department of Agriculture data issued on Thursday. EXP/CORN EXP/SOY

• CBOT July corn futures CN25 were up 2-3/4 cents at midmorning on Thursday at $4.63-3/4 per bushel. July soybean futures SN25 were up 6-1/2 cents at $10.69-1/4 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