US Cash Grains-Soybean, corn bids higher with farmers reluctant to sell

CHICAGO, July 1 (Reuters) - Spot basis bids for soybeans and corn were steady to higher in the U.S. Midwest on Tuesday as farmers were reluctant to sell amid low futures prices.

• The soy basis ticked higher at an Ohio elevator and an Iowa processor.

• The corn basis ticked higher at an Illinois processor and three ethanol plants.

• More locations rolled their basis bids to the next contract month.

• Quarterly stocks data from the U.S. Department of Agriculture showed larger-than-expected supplies as of June 1.

• The USDA issued updated estimates of U.S corn and soybean acreage that were broadly in line with market expectations.

• Chicago Board of Trade most-active corn futures fell 4-1/2 cents to $4.04-3/4 per bushel. CBOT most-active soy futures Sv1 rose 1/4 cent to $10.27-1/4 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