US Cash Grains-Corn, soybean basis bids rise for near-term delivery

Oct 2 (Reuters) - Corn and soybean basis bids on Thursday rose for crops delivered over the next two weeks as grain dealers sought to buy supplies from farmers who are harvesting their fields, brokers said.

• At a river terminal in Seneca, Illinois, the basis bid for soybeans rose by 15 cents for delivery before October 15.

• A processor in Decatur, Illinois, raised its soy basis bid by 5 cents for delivery before October 12.

• For corn, an ethanol plant in Linden, Indiana, hiked its bid by 15 cents for delivery before October 7. A processor in Cedar Rapids, Iowa, raised its corn bid by 3 cents for delivery before October 5.

• Warm and dry weather is helping farmers to advance their harvests through the Midwest, but the peak of harvesting still feels like it is a week or two away, one broker said.

• Soybean yields have been strong so far, brokers said.

• On Wednesday, StoneX raised its forecast of the U.S. 2025 soy yield to 53.9 bushels per acre from its September 4 figure of 53.2 bushels. The firm forecast U.S. soybean production at 4.326 billion bushels, up from 4.257 billion previously.

• For corn, StoneX lowered its yield estimate but increased its output forecast.

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