US Cash Grains-Corn, soybean basis bids mostly steady to lower

CHICAGO, Aug 26 (Reuters) - Spot basis bids for corn and soybeans delivered to U.S. Midwest processors and ethanol plants were mostly steady to lower on Tuesday as farmers cleared out their storage prior to the autumn harvest.

• A processor in Decatur, Illinois, lowered its soybean basis by 5 cents.

• An ethanol plant in Union City, Indiana, lowered its corn basis by 4 cents.

• Analysts said farmers were selling crops ahead of the harvest season.

• Soy processors have lowered their bids as some facilities are set to suspend operations for seasonal maintenance and repairs.

• Some locations rolled their basis to the December contract.

• In a weekly crop report, the U.S. Department of Agriculture rated 71% of the country's corn crop as being in good or excellent shape as of August 24, unchanged from a week earlier, surprising analysts who had expected slight declines.

• The agency increased the soybean crop rating to 69% good to excellent, up from 68% the previous week.

• As 12:30 p.m. CST (1730 GMT) Chicago Board of Trade November soy futures SX25 rose 1 cent to $10.48-3/4 a bushel, while corn futures CZ25 fell 2-3/4 cents to $4.09-1/4 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-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