US Cash Grains-Corn basis bids weaken at grain elevators

CHICAGO, Dec 17 (Reuters) - U.S. corn basis bids declined at Midwestern grain elevators and processing facilities on Wednesday, grain dealers said.

• A river terminal in Morris, Illinois, reduced its corn basis by 2 cents per bushel and its soybean basis by 3 cents.

• A Chicago-area elevator and a processor in Decatur, Illinois each lowered their corn basis bids by 5 cents per bushel.

• Weekly U.S. ethanol production increased by 26,000 barrels per day while stocks fell, according to the Energy Information Administration.

• At the Chicago Board of Trade, corn futures Cv1 ended higher on U.S. export demand, though the market faced spillover pressure from falling wheat prices. Cheaper wheat can compete with corn demand in feed markets, analysts said.

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