US Cash Grains-Soy, corn basis steady-firmer; winter storm looms

CHICAGO, Jan 22 (Reuters) - Spot basis bids for soybeans and corn were steady to stronger in the U.S. Midwest on Thursday, reflecting demand for grain from processors and elevators as farmer selling remained subdued, merchandisers said.

• A massive winter storm was forecast to clobber the central U.S. Plains to the East Coast with ice and heavy snow, starting on Friday, while frigid temperatures were predicted for the northern Plains and Upper Midwest, potentially slowing grain movement.

• The soybean basis improved by 5 to 10 cents at soy crushing plants in Lafayette and Decatur, Indiana, and by 4 to 5 cents at terminal elevators in Cincinnati and Toledo, Ohio.

• Soy crush margins were rising, enticing processors to pay up for replacement soybeans to crush. The CBOT March board crush SMSIH26-BOH26-SH26, one indication of processors' profit margins, was up 8-1/4 cents at mid-session on Thursday at $1.79 per bushel of soybeans, its highest reading since late August.

• For corn, the basis firmed by 5 cents at Toledo and by a penny at Cincinnati.

• On the Chicago Board of Trade as of 12:17 p.m. CST (1817 GMT), March corn futures CH26 were up 1-3/4 cents at $4.23-1/2 a bushel while March soybeans SH26 were down 2 cents at $10.62-1/2 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

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

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