US Cash Grains-Soybean, corn basis bids higher as farmers sell

CHICAGO, Oct 29 (Reuters) - Spot cash soybean and corn basis bids were mostly higher in the U.S. Midwest on Wednesday as farmers took advantage of the price bump to sell and as futures consolidated.

• China's state-owned COFCO bought three U.S. soybean cargoes, two trade sources said, the country's first purchases from this year's U.S. harvest, shortly before a summit of leaders Donald Trump and Xi Jinping.

• Trump said on Monday that a trade deal should be agreed and Treasury Secretary Scott Bessent said China would make "substantial" soybean purchases under the proposed framework.

• The U.S. soybean harvest was 84% complete as of Sunday and the corn harvest was 72% finished, according to a Reuters poll of 10 analysts on Monday.

• Chicago Board of Trade most-active corn futures Cv1 were flat at $4.31-1/2 per bushel as of midday.

• Most-active soybean futures Sv1 were up 3/4 cent to $10.78-1/2 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