US Cash Grains-Soybean bids fall at Midwest processors

CHICAGO, Aug 15 (Reuters) - Basis bids for U.S. soybeans were flat to lower at Midwestern processing facilities on Friday amid a lack of strong demand, traders said.

• Processors dropped their bids by 2 cents to 10 cents per bushel. At river terminals, bids declined by as much as 5 cents.

• Corn bids were largely flat.

• Processors in the Midwest seem to be well stocked with corn, a broker said. The corn sector will rely on U.S. exports, rather than domestic demand from ethanol or livestock producers, to eat into large supplies, the broker said.

• The U.S. Department of Agriculture on Tuesday projected a record-large corn harvest and record corn and soybean crop yields. The outlook for soybean production was lower than expected, though, because of a surprisingly large decline in estimated plantings.

• Next week, the Pro Farmer crop tour will assess fields of corn and soybeans across the Farm Belt.

• Chicago Board of Trade soybean Sv1 and corn Cv1 futures rose early on Friday.

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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- U.S. Midwest cash grain PM GRA/PM

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