US Cash Grains-Corn processor basis bids steady-weak as futures edge higher

CHICAGO, Aug 20 (Reuters) - Spot corn basis bids were mostly steady at U.S. Midwest grain elevators on Wednesday and steady to lower at ethanol plants and other processors as futures prices edged higher and buyers anticipated a record U.S. harvest this autumn, merchants said.

• A large corn processor in Decatur, Illinois, lowered its spot soy basis bid by 5 cents a bushel on Wednesday. An ethanol plant in Union City, Indiana, also cut its spot basis bid by 5 cents.

• Spot soybean basis bids held steady at most elevators and processors, stabilizing after lower values at several locations earlier this week on slow demand.

• Demand for soybeans at processors has come under pressure as some crush plants are idle for seasonal maintenance and repairs while several others are planning to take downtime ahead of the autumn harvest.

• Grain merchants are following reports from this week's Pro Farmer Midwest crop tour after the U.S. Department of Agriculture forecast record corn and soybean yields in a monthly report last week. Scouts on Tuesday calculated the highest average corn yield in four years in Nebraska while Indiana's estimate was the highest in at least 22 years. Soy pod counts in Nebraska were the highest in at least 22 years, while Indiana's pod count was above average.

• Traders are awaiting further reports from day 3 of the tour, with scouts surveying fields in Illinois and western Iowa.

• Chicago Board of Trade December corn futures CZ25 were up 1-1/4 cents near the close on Wednesday at $4.04-1/2 per bushel, while November soybeans SX25 rose 2-1/4 cents to $10.36 a bushel.

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