US Cash Grains-Soy bids steady-higher, corn flat in slow selling

CHICAGO, July 1 (Reuters) - Spot basis bids for soybeans were steady to higher while corn bids were mixed in the U.S. Midwest on Tuesday as farmers hesitated to sell and global supply remained ample.

• An Iowa soy processor and crush plant raised their soy basis bids.

• Corn futures dropped to contract lows as favorable crop conditions bolstered expectations of ample supplies of the grain.

• Low futures prices have discouraged farmer selling.

• Soybeans were nearly unchanged as rising soyoil prices offset early pressure from steady but still-strong U.S. crop conditions and good Midwest crop weather.

• September corn CU25 finished down 2-1/4 cents at $4.09-1/4 a bushel.

• CBOT August soybeans SQ25 dipped to lows not seen since April 10 before settling unchanged at $10.29-3/4 a bushel.

• Benchmark September Chicago Board of Trade corn CU25 ended down 3-1/4 cents at $4.06 a bushel after hitting a contract low of $4.00-1/4 early in the session.

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

For U.S. forward basis spreadsheets, please click on:

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 AM GRA/M

- U.S. CIF/FOB Gulf Grain GRA/F