US Cash Grains-Corn basis bids stay flat after week of farmer selling

CHICAGO, Nov 7 (Reuters) - Basis bids for corn and soybeans stayed unchanged at grain elevators and processing facilities in the U.S. Midwest on Friday, dealers said, after farmers ramped up selling this week.

• Some farmers accelerated sales to pay bills after recent gains in prices.

• Farmers started selling corn on Monday and continued all week, said Charlie Sernatinger, executive vice president of Marex Capital Markets.

• "With rally in both the board price and the basis since the beginning of September, the farmer is letting the last bit of his crop go to the buyer," he said.

• Chicago Board of Trade corn Cv1 futures finished lower for the second consecutive day on Friday.

• Farmers are traders were waiting for the U.S. Department of Agriculture to update its corn and soybean production and yield estimates in a monthly report due on November 14.

• The USDA did not issue the report in October due to the federal government's shutdown.

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