US Cash Grains-Corn, soy basis bids mostly steady to stronger

CHICAGO, Jan 2 (Reuters) - Spot basis bids for corn and soybeans were mostly steady to stronger on Friday, spot checks showed, indicating demand from grain processors and elevators following the New Year's Day holiday while Chicago Board of Trade futures ticked lower, discouraging farmer sales.

• The corn basis improved by 2 to 5 cents a bushel at elevators in Cincinnati, Ohio, and Lincoln, Nebraska, as well as an ethanol plant at Linden, Indiana.

• At Savanna, Illinois, on the Mississippi River, the corn basis firmed by 5 cents and the soybean basis firmed by 10 cents.

• One exception to the firm trend was at Cedar Rapids, Iowa, where the corn basis weakened by 2 cents.

• For soybeans, the basis strengthened by 10 cents a bushel at a crushing plant in Lincoln, Nebraska, and by 4 cents at a Cincinnati, Ohio, elevator.

• More locations have rolled their soybean basis bids to the Chicago Board of Trade March SH26 contract as the January contract SF26 approaches its January 14 expiration.

• CBOT corn, soybean and wheat futures were lower at mid-session on technical selling, a lack of supportive news and expectations for sizable South American crops.

• As of 11:07 a.m. CST (1707 GMT), CBOT March corn CH26 was down 2-1/4 cents at $4.38 a bushel and March soybeans SH26 were down 4 cents at $10.43-1/2 a bushel.

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

--------------------------------------------------------

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