US Cash Grains-Corn, soy basis mostly steady to higher

CHICAGO, Nov 18 (Reuters) - Basis bids for corn and soybeans were mostly steady to higher at grain processing facilities and river elevators in the U.S. Midwest on Tuesday, spot checks showed.

• The corn basis firmed by 2 to 4 cents at processors in Cedar Rapids, Iowa, and Blair, Nebraska, and also by 5 cents at Savanna, Illinois, where grain is loaded onto barges for shipment on the Mississippi River toward Gulf exporters.

• However, the corn basis retreated by a nickel at Decatur, Illinois, a processing hub, after improving by the same amount a day earlier.

• For soybeans, the basis strengthened at Midwest river elevators, lifted by stronger demand at the Gulf after China booked several cargoes of U.S. soybeans.

• The U.S. Department of Agriculture confirmed sales of 792,000 metric tons of U.S. soybeans to China, while Reuters reported that China bought at least 14 cargoes, its largest purchase since at least January.

• The U.S. harvest is nearly complete, the USDA reported late on Monday in its first weekly crop progress report since September. The agency said the corn harvest was 91% complete by Sunday and the soybean harvest was 95% finished.

• CBOT corn futures were modestly higher late in Tuesday's trading session, with December corn CZ25 up 1-1/2 cent at $4.36-1/4 a bushel. CBOT soybeans turned lower on profit-taking after multi-month highs, with January soybeans SF26 down 3 cents at $11.54-1/4 a bushel. GRA/

Basis values are quoted against CBOT futures in cts/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-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