US Cash Grains-Corn, soybean basis bids fall as futures rebound

CHICAGO, Feb 3 (Reuters) - Basis bids for corn and soybeans were steady to lower in a spot check of elevators, processors, ethanol plants and river terminals in the U.S. Midwest on Tuesday as futures rebounded after yesterday's slump.

• The corn basis fell at a river terminal in Savanna, Illinois and an ethanol plant in Annawan, Illinois.

• The soybean basis fell at an elevator in Cincinnati, Ohio and a processor in Lafayette, Indiana.

• Market players are parsing through the U.S. Treasury Department's updated guidance on the 45Z Clean Fuel Production Credit, which among other changes, clarified that only feedstocks from the U.S., Mexico and Canada qualify for the tax credit and extended the credit to 2029. GRA/

• At 12:48 p.m. CST (1848 GMT) Chicago Board of Trade March corn futures CH26 rose 2 cents to $4.27-3/4 a bushel. CBOT March soybeans SH26 were up 4-1/2 cents to $10.64-3/4 a bushel. GRA/

Basis values are quoted against CBOT futures in cts/bu:

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