US Cash Grains-Soy bids mixed, corn flat as futures rebound

CHICAGO, July 2 (Reuters) - Spot basis bids for soybeans were mixed while corn bids were flat in the U.S. Midwest on Wednesday as farmer selling remained light and futures rebounded.

• The soybean basis ticked lower at an Illinois river terminal and increased at an Indiana crush plant.

• Ideal growing weather in the U.S. Midwest has continued to add pressure to corn and soybean futures, discouraging farmer selling.

• Chicago Board of Trade corn futures rallied nearly 3% on Wednesday on bargain buying and technical buying, and as traders squared positions ahead of the long U.S. Independence Day holiday weekend, traders said.

• CBOT soybean futures surged on Wednesday on technical support and bargain buying and on market rumors that U.S. President Donald Trump's upcoming visit to Iowa may include news of progress in trade talks with China, traders said.

• CBOT September corn CU25 settled 12 cents higher at $4.18 per bushel after hitting a contract low in the previous session. New-crop CBOT December corn CZ25 ended 11-1/2 cents higher at $4.33-1/2 a bushel.

• CBOT August soybeans SQ25 settled 23-3/4 cents higher at $10.53-1/2 a bushel while the new-crop November contract SX25 ended up 20-3/4 cents at $10.48 a bushel.

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