US Cash Grains-Soy, corn basis bids strengthen as farmer sales slow

CHICAGO, April 1 (Reuters) - Spot basis bids for soybeans and corn jumped on Wednesday at processing facilities, grain elevators and river terminals in the U.S. Midwest as farmer selling slowed, dealers said.

• The soybean basis rose by 10 cents per bushel at processors in Lafayette, Indiana; Council Bluffs, Iowa; and Lincoln, Nebraska.

• River terminals in Illinois and Iowa raised their soybean bids by up to 12 cents and corn bids by 2 cents.

• Ethanol plants in Linden, Indiana, and Council Bluffs, Iowa, increased corn bids by 12 cents and 3 cents, respectively.

• Farmers have cooled crop sales as they focus on field work. They are also hoping prices rise during the growing season, said Brian Hoops, president of Midwest Market Solutions.

• "For the most part, the farmers have completed all the sales they are planning on doing until spring/summer weather rallies," Hoops said.

• Large supplies have kept a lid on basis.

• As of March 1, U.S. corn stocks were up 11% from a year earlier, the U.S. Department of Agriculture said on Tuesday. Stocks were up 10% for soybeans and 5% for wheat.

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