US Cash Grains-Corn, soy basis flat-down as winter storm hits Farm Belt

CHICAGO, Jan 23 (Reuters) - Spot basis bids for corn and soybeans were steady to lower in the U.S. Midwest on Friday as a winter storm and frigid temperatures slowed grain transportation, dealers said.

• Temperatures fell below negative 20 degrees Fahrenheit (-29 Celsius) across much of Minnesota, North Dakota and eastern South Dakota, according to a daily U.S. Department of Agriculture weather report.

• Gusty winds accompanied the bitter cold, leading to dangerously low wind-chill temperatures, the agency said.

• More than 150 million Americans were under some form of weather emergency notices from the National Weather Service.

• Farmers were disappointed that an effort to allow year-round sales of higher-ethanol E15 gasoline blends fell through in a U.S. funding bill this week. Year-round sales of E15 could boost demand for corn at a time when crop prices are low.

• The corn basis fell by 10 cents a bushel at an ethanol plant in Annawan, Illinois, and by 1 cent at a processor in Cedar Rapids, Iowa.

• A grain elevator in Cincinnati, Ohio, lowered its corn basis by 3 cents and its soybean basis by 1 cent.

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