US Cash Grains-Corn basis rises as planting progresses rapidly

CHICAGO, May 12 (Reuters) - Basis bids for corn were flat to higher at U.S. Midwest elevators and river terminals on Tuesday as futures ticked up and farmers were in the midst of a fast-moving planting season.

• The corn basis firmed at elevators in Blair, Nebraska and Cincinnati, Ohio. It also rose at a river terminal in Seneca, Illinois.

• The soybean basis rose at the elevator in the Cincinnati, Ohio area. It fell at a river terminal in Davenport, Iowa.

• After the close of the trading session on Monday afternoon, the U.S. Department of Agriculture reported

  the nation's corn planting was 57% complete by Sunday, ahead of the average analyst estimate of 55% and the five-year average pace of 52%.

• Soybean planting was 49% complete, the agency reported, ahead of the average trade estimate of 48% and the five-year average of 36%.

• This autumn, U.S. growers will harvest their second-largest soybean crop on record, while corn production is expected to drop 6% from last year, the USDA said in its first official forecast of the 2026/27 crop season.

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