US Cash Grains-Soy crusher basis mostly steady-weaker

Sept 12 (Reuters) - Basis bids for soybeans were mostly steady to weaker among U.S. Midwest soybean processors on Friday, easing at several Indiana crushing sites, while corn basis bids were steady to firmer, spot checks showed.

• The soybean basis fell by a nickel per bushel at crushing plants in Lafayette and Decatur, Indiana, and by 10 cents at Morristown, Indiana.

• One exception to the weaker trend was Council Bluffs, Iowa, where the soybean basis improved by 5 cents.

• For corn, bids were mostly unchanged but the basis improved by 5 cents at an ethanol plant in Annawan, Illinois.

• Harvest time is approaching or starting in much of the Corn Belt, and farmers have been moving supplies of old-crop corn to elevators as they make space for the new crop, filling supply pipelines and pressuring cash grain bids.

• But corn and soy supplies are still tight in some pockets of the region as grain handlers wait for new-crop supplies to arrive, supporting basis bids.

• On the Chicago Board of Trade, corn and soybean futures rallied despite the U.S. Department of Agriculture raising its production estimates for both crops. GRA/

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