US Cash Grains-Soy, corn basis lower amid farmer sales

CHICAGO, March 9 (Reuters) - Basis bids for corn and soybeans turned lower at elevators, processors and river terminals in the U.S. Midwest on Monday amid a spate of farmer selling as producers took advantage of a recent rally in corn and soy prices to offload grain, dealers said.

• Though futures traded higher earlier in the session, U.S. grain and soybean futures later fell in a profit-taking and technical-selling retreat from multiyear highs posted overnight, after soaring crude oil prices amid ongoing hostilities in the Middle East sparked speculative and fund buying.

• Chicago Board of Trade soybeans Sv1 and wheat Wv1 touched their highest points in 21 months while corn Cv1 hit a 10-month peak as crude oil climbed to the highest level since 2022.

• CBOT most-active soybeans were last down 3 cents at $11.97-3/4 per bushel. Most-active corn was last down 4-1/4 cents at $4.56-1/4 per bushel.

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

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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