US Cash Grains-Corn bids steady-firmer, US crop weather looks benign

CHICAGO, June 6 (Reuters) - Spot basis bids for U.S. corn were mostly flat to stronger at Midwestern grain elevators and processing plants on Friday, extending a trend in the cash market, dealers said.

• The basis rose by 2 cents at an elevator in Council Bluffs, Iowa, and by 5 cents at a port facility in Toledo, Ohio.

• A river terminal in Morris, Illinois, raised its corn and soybean basis bids. Soy bids were flat elsewhere.

• Crop weather looks mostly non-threatening so far, a dealer said.

• The U.S. Department of Agriculture is scheduled to issue weekly crop condition ratings on Monday.

• There are some thoughts that corn ratings will improve after the USDA said 69% of the crop was in good or excellent condition as of June 1, a dealer said.

• U.S. grain dealers are keeping an eye on Brazil, where a large corn harvest threatens to hurt global demand for U.S. supplies, they said.

Basis values are quoted against CBOT futures in cents/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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