US Cash Grains-Soy, corn basis steady-firmer as CBOT futures climb

CHICAGO, May 4 (Reuters) - Basis bids for soybeans and corn were steady to firmer in the U.S. Midwest on Monday while Chicago Board of Trade futures climbed, spot checks showed.

• Strong soybean crush margins, topping $3 per bushel in some cases, underpinned soybean basis bids as processors worked to maintain incoming supplies from farmers.

• The soybean basis improved by 10 cents a bushel at Savanna, Illinois, where grains and soy are loaded onto barges for shipment on the Mississippi River towards exporters at the U.S. Gulf.

• Basis bids for corn were mostly unchanged, although the basis firmed by 2 cents a bushel at a Cedar Rapids, Iowa, processor.

• Farmers continue to focus on planting. The U.S. Department of Agriculture is scheduled to give a weekly update later on Monday on U.S. planting progress, which has been running ahead of schedule so far this spring.

• Most locations have rolled their basis bids to the CBOT July corn CN26, soybean SN26 and wheat WN26 futures contracts as the CBOT's May contracts approach their May 14 expiration.

• As of 11:07 a.m. CDT (1607 GMT), CBOT July corn CN26 was up 3-3/4 cents at $4.84 a bushel and July soybeans SN26 were up 18-3/4 cents at $12.22 a bushel. GRA/

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