US Cash Grains-Corn and soybean bids mostly flat as futures stumble

CHICAGO, July 11 (Reuters) - Spot basis bids for corn and soybeans were mostly steady in the U.S. Midwest on Friday as futures dipped on favorable weather raising expectations for a large autumn harvest.

• The soybean basis fell at a river terminal in Morris, Illinois.

• The basis was unchanged at all other locations in a spot check.

• Rain is maintaining mostly favorable soil moisture reserves for crops in the Midwest, with temperatures remaining below stressful levels, the U.S. Department of Agriculture said in a daily weather report.

• A monthly USDA report trimmed the outlook for the nation's soybean harvest to 4.335 billion bushels, from a June outlook for a 4.340 billion-bushel crop. That was largely in line with the average analyst estimate of 4.334 billion bushels in a Reuters poll.

• U.S. corn inventories will shrink to their lowest in four years ahead of what is expected to be a record autumn harvest, the USDA said in the same report.

• CBOT December corn CZ25 settled down 4-1/4 cents at $4.12-1/4 a bushel.

• November soybeans SX25 ended down 6-1/2 cents at $10.07-1/4 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