US Cash Grains-Soybean bids flat to lower as contracts begin rolling over

CHICAGO, June 11 (Reuters) - Spot basis bids for U.S. soybeans were steady to down at processing facilities and river terminals in the U.S. Midwest on Wednesday. Analysts said the dips were due to weak crush margins and expected ample supplies. Some ADM locations began rolling their contracts from July to November.

• The soybean basis at ADM processing facilities in Decatur, Illinois and Des Moines, Iowa fell as they rolled on to the November contract.

• The soybean basis also lost ground at river terminals in Morris, Illinois and Davenport, Iowa.

• Analysts said river terminals may be dropping basis bids because of an influx of beans as farmers redirect their crop from processing sites with falling basis bids.

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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LINKS: 0#USCSHGRN-AM

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