US Cash Grains-Soy, corn basis mostly steady to firmer

CHICAGO, Oct 8 (Reuters) - Spot basis bids for soybeans were mostly steady to firmer at soy processing sites in the U.S. Midwest on Wednesday as farmer offerings slowed and the harvest of the oilseed began to wind down in a few eastern areas, merchandisers said.

• The soybean basis rose by 5 cents a bushel at soy crushing facilities in Decatur, Illinois, as well as Decatur, Indiana, and Morristown, Indiana.

• The soybean harvest was nearly done in parts of central Indiana, one merchandiser said, after area farmers focused intensively on harvesting the crop in recent days while leaving corn fields for later.

• However, bucking the firmer trend, the soybean basis fell by 15 cents at Lincoln, Nebraska.

• The U.S. soybean harvest was 39% complete and the corn harvest was 29% complete by Sunday, according to analysts, but the U.S. Department of Agriculture's weekly progress report was not released on Monday due to the government shutdown.

• Corn basis bids were also mostly steady to stronger on Wednesday, a possible reflection of slow farmer selling as the Midwest harvest continued.

• The corn basis firmed by 3 cents at a Cedar Rapids, Iowa, processing plant, by 3 cents at a river elevator in Seneca, Illinois, and by 2 cents at a Cincinnati, Ohio, terminal.

• But the basis fell by 3 cents at a Linden, Indiana, ethanol plant.

• At midsession, Chicago Board of Trade December corn futures CZ25 were up 1-1/2 cents at $4.21-1/4 per bushel and November soybean futures SX25 were up 6-3/4 cents at $10.28-3/4 a bushel. 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