US Cash Grains-Corn, soybean spot basis bids mostly steady-higher

CHICAGO, April 29 (Reuters) - Spot basis bids for corn and soybeans delivered to U.S. Midwest elevators and processing plants were mostly steady to higher on Wednesday, underpinned by firm demand, grain merchants said.

• Grain dealers reported scattered farmer sales, including of old-crop corn, as futures prices advanced. But many growers are waiting to see if prices rise further before committing to selling crops.

• Many Midwest farmers are busy planting or preparing to plant corn and soybeans. The planting pace has been ahead of normal so far this spring.

• Rain and wet soil conditions stalled seeding in many areas this week. Some farmers had raced to plant crops last week before the rains arrived.

• Grain merchants continued to roll their spot basis bids to the Chicago Board of Trade July contracts from May on Wednesday. At some locations, the roll resulted in higher spot cash bids.

• CBOT July corn futures CN26 were 3/4 cent higher near midday on Wednesday at $4.76-1/4 a bushel, while November soybeans SN26 were 8-1/4 cents higher at $11.97-1/2 a bushel

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