U.S. Cash Grains-Basis bids steady to higher in quiet trade

May 2 (Reuters) – Spot basis bids for soybeans and corn were steady to higher at processors and elevators around the U.S. Midwest early on Friday as farmers held off on selling crops, dealers said.

* Some growers inquired about delayed pricing for old-crop soybeans already moved to a processor, but no new sales were booked, a dealer in southern Ohio said.

* Some farmers worked in the fields early on Friday but expected to get pushed out again by rain showers about midday, a dealer in northern Ohio said.

* In western Iowa, farmers may be able to resume planting activity this weekend as temperatures were forecast to reach 75 degrees F (23.9 degrees C), a grain merchant said.

* Elsewhere around the region farmers checked equipment and worked on other pre-planting chores in areas where damp fields kept them from planting, Ohio and Indiana dealers said.

* More dealers rolled basis bids to the Chicago Board of Trade July contract, from the May contract.

* A corn bid rose by 4 cents per bushel at a Toledo, Ohio, port. A soybean bid rose by 3 cents per bushel at the same location.

Basis values are quoted against CBOT futures in cts/bu:

                    CORN                  SOYBEANS           
 CINCINNATI OH        -11  +  N  UNC      +30     +  N  UNC
 BURNS HARBOR IN      -15  +  N  UP 5     +20     +  N  UP 30
 DECATUR IN           -30  +  N  UNC                         
 DES MOINES IA                            UNQ           UNC
 LINCOLN NE           -22  +  N  UNC                    
                    CORN                  SOYBEANS           
 DECATUR IL           +10  +  N  UNC      +35     +  N  UNC
 DECATUR IN                               +55     +  N  UNC
 MORRISTOWN IN                            +50     +  N  UNC
 LAFAYETTE IN                             +55     +  K  UP 15
 CEDAR RAPIDS IA       +1  +  N  UNC       +5     +  N  UNC
 COUNCIL BLUFFS IA                        +10     +  N  UP 3
 LINCOLN NE                                +3     +  N  UNC
 BLAIR NE             -12  +  N  NC                          
 RIVER TERMINALS                                             
                    CORN                  SOYBEANS           
 TOLEDO OH            -19  +  N  UP 4     +30     +  N  UP 3
SENECA IL -4 + N NC +13 + N NC SAVANNA IL -5 + N NC -5 + N NC DAVENPORT IA -6 + N UNC +7 + N UNC ETHANOL PLANTS LINDEN IN -10 + N NC UNION CITY IN -3 + N UP 5 ANNAWAN IL -4 + N DN 1 COUNCIL BLUFFS IA -14 + N UNC SRW WHEAT TOLEDO OH -8 + N UNC CINCINNATI OH -25 + N UNC DECATUR IN -15 + N UNC BURNS HARBOR IN -25 + N UNC NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted, NC = Not comparable, DP = Delayed Price, K = May, N = July --------------------------------------------------------------- LINKS: For U.S. forward basis spreadsheets, please double-click on: - CBOT corn report - CBOT soybean report - CBOT wheat report - U.S. grain barge freight values - U.S. Midwest cash grain PM - U.S. CIF Gulf Grain - U.S. FOB Gulf Grain (Reporting by Meredith Davis in Chicago; editing by Matthew Lewis)

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