US Cash Grains-Corn, soy bids mostly steady in quiet trade

CHICAGO, July 23 (Reuters) - Spot basis bids for corn and soybeans were steady to mixed in the U.S. Midwest on Wednesday as low corn and soy prices discouraged selling and industry players kept a close eye on the weather in the U.S. crop belt.

• The corn basis fell at an Iowa elevator and the soy basis fell at the same elevator.

• The wheat basis fell at an Ohio elevator.

• Corn and soybean futures came under pressure from expectations of a hefty U.S. supply of both crops.

• Chicago Board of Trade soybean futures closed lower on Wednesday, after soymeal futures slumped on news that China would cut back its hog production, reduce soymeal use and hunt for meal substitutions in feed rations, traders said.

• Chicago Board of Trade most-active November soybeans SX25 settled down 2-3/4 cents at $10.22-3/4 a bushel.

• CBOT most-active corn contract Cv1 ended the day down 1/2-cent at $4.17-1/2 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