US Cash Grains-Corn, soy basis mostly steady as CBOT futures slip

CHICAGO, May 7 (Reuters) - Basis bids for corn and soybeans were mostly steady in the U.S. Midwest on Thursday as Chicago Board of Trade corn and soy futures stepped back from recent multi-week highs, discouraging further farmer sales.

• Among the exceptions to the steady trend, the soybean basis in Decatur, Illinois, a grain processing hub, weakened by 5 cents a bushel, while the corn basis improved by a penny at a Cedar Rapids, Iowa, processing site.

• Farmers have been active sellers of corn in recent days as CBOT July corn CN26 climbed toward $4.87-1/2 a bushel on Tuesday.

• Prices have since fallen, with grain futures pressured by a retreat in crude oil futures tied to hopes that a U.S.-Iran peace deal could bring a gradual reopening of the Strait of Hormuz. O/R

• On the CBOT as of 12:12 p.m. CDT (1712 GMT), July corn CN26 was down 2 cents at $4.66-1/2 a bushel and July soybeans SN26 were down 2-3/4 cents at $11.92 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