US Cash Grains-Corn and soybean basis bids largely steady

CHICAGO, May 12 (Reuters) - Basis bids for corn and soybeans were mostly flat in a spot check of locations in the U.S. Midwest on Tuesday, as futures rose.

• The basis for corn rose 1 cent at a river terminal in Morris, Illinois.

• The soybean basis fell 2 cents at a river terminal in Davenport, Iowa.

• Corn and soybean futures rose as fuel and fertilizer prices edged up due to the closure of the Strait of Hormuz, causing stress for U.S. farmers already reeling from trade disruptions caused by President Donald Trump's tariff battles. GRA/

• Investors are also optimistic that China and the U.S. may reach a deal at their summit this week that expands Beijing's purchases of grain.

• A sharp rally in wheat prices also helped lift corn and soy futures.

• CBOT July corn CN26 ended 4-3/4 cents higher at $4.80 per bushel.

• CBOT July soybeans SN26 jumped 13-3/4 cents to $12.26-3/4 per bushel.

Basis values are quoted against CBOT futures in cents/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-AM

For U.S. forward basis spreadsheets, please click on:

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 AM GRA/M

- U.S. CIF/FOB Gulf Grain GRA/F