US Cash Grains-Corn, soybean basis steady to weaker at river terminals, processors, ethanol plants

CHICAGO, July 31 (Reuters) - Basis bids for corn and soybeans were mostly steady to lower at elevators, processors and river terminals in a spot check of facilities in the U.S. Midwest on Thursday, with some farmers clearing out old crops and softer export demand, according to analysts.

• The corn basis fell at processors in Cedar Rapids, Iowa and Lincoln, Nebraska, a river terminal in Savanna, Illinois and an elevator in Cincinnati, Ohio.

• The soybean basis fell at processors in Decatur, Illinois and Morristown, Indiana as well as Cedar Rapids and Council Bluffs, Iowa.

• "A lot of buyers now claim to have adequate coverage until harvest," said Karl Setzer, a partner at Consus Ag, though he said in some locations merchandisers were seeing little movement.

• Setzer said processing margins were softer, weighing on the basis, and "the export market is not pushing as hard for inventory as interest shifts to new crop coverage, easing competition for what bushels are moving."

• CBOT September corn futures CU25 settled up 2-1/4 cents at $3.94 a bushel and new-crop December corn CZ25 finished up 1-1/2 cents at $4.13-3/4 a bushel.

• CBOT August soybeans SQ25 ended down 6 cents at $9.61-3/4 a bushel and the new-crop November contract SX25 was down 6-1/2 cents at $9.89-1/4.

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