US Cash Grains-Corn basis bids steady to up, soybean bids unchanged

CHICAGO, Oct 20 (Reuters) - Spot basis bids for corn were steady to higher at processing facilities on Tuesday and soybean bids were flat in a spot check of locations in the US Midwest, as futures fell.

• The corn basis edged up by 5 cents a bushel at an elevator in the Chicago, Illinois area. It were unchanged elsewhere.

• Corn and soybean futures fell, pressured by the active, albeit slower than expected harvest in the U.S. Midwest.

• The US Department of Agriculture reported that the corn harvest was 44% complete as of Sunday, behind the five-year average of 52%. Analysts expected it to be 49% complete, according to a Reuters poll.

• The soybean harvest was 64% complete, compared to the five-year average of 65%, the USDA said. Analysts expected 66%.

• Dry harvest weather in the Midwest was expected through at least the end of this week, according to forecaster Commodity Weather Group, as farmers gathered large soy and corn crops.

  
  

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:

For US forward basis spreadsheets, please click on:

- CBOT corn report COR/

- CBOT soybean report SOY/C

- CBOT wheat report WHE/C

- US grain barge freight values BG/US

- US Midwest cash grain AM GRA/M

- US CIF/FOB Gulf Grain GRA/F