U.S. Cash Grains-Corn basis bids steady/up; light soy sales

May 16 (Reuters) – Corn spot basis bids were steady to higher around the U.S. Midwest early on Friday as farmers held off on booking corn crop sales, dealers said.

* Corn bids increased by 2 cents per bushel at ethanol plants in Illinois and Iowa.

* Soybean bids were steady to higher at processors and river terminals as farmers showed mixed interest in selling crops.

* In western Indiana, some farmers were interested in selling soybeans and worked with dealers to price the crops. In western Iowa, farmers were more reluctant to sell so a processor increased its bid in an effort to entice them to market.

* Wheat bids held steady around the Midwest region, dealers said. An Ohio grain merchant noted some possible weather damage to wheat crops in southern Ohio after strong thunderstorms and a tornado touched down in the area.

* Cold and wet weather around the region will keep farmers out of the fields again on Friday. Some farmers in the Western Corn Belt hoped to resume planting on Saturday and early next week in the Eastern Corn Belt, dealers said.

* A couple of dealers noticed a slight increase in crop delivery pace as rainy and wet conditions kept farmers from planting.

Basis values are quoted against CBOT futures in cts/bu:
                    CORN                   SOYBEANS           
 CINCINNATI OH        -10  +  N  UNC       +40     +  N  UNC
 BURNS HARBOR IN      -15  +  N  UNC       +22     +  N  UNC
 DECATUR IN           -20  +  N  UP 10                        
 DES MOINES IA                             UNQ           UNC
 LINCOLN NE           -19  +  N  UNC                     
                    CORN                   SOYBEANS           
 DECATUR IL           +14  +  N  UNC       +40     +  N  UNC
 DECATUR IN                                +65     +  N  UNC
 MORRISTOWN IN                             +55     +  N  UNC
 LAFAYETTE IN                              +55     +  N  UNC
 CEDAR RAPIDS IA      +10  +  N  UNC       +17     +  N  UNC
 COUNCIL BLUFFS IA                         +20     +  N  UP 2
 LINCOLN NE                                 +5     +  N  UNC
 BLAIR NE              -8  +  N  UP 1                         
 RIVER TERMINALS                                              
                    CORN                   SOYBEANS           
 TOLEDO OH            -19  +  N  UNC       +30     +  N  UNC
SENECA IL +1 + N UNC +12 + N UP 4 SAVANNA IL -5 + N UP 1 +12 + N UP 10 DAVENPORT IA -1 + N UNC +10 + N UNC ETHANOL PLANTS LINDEN IN -3 + N UNC UNION CITY IN +0 + N UNC ANNAWAN IL -1 + N UP 2 COUNCIL BLUFFS IA -12 + N UP 2 SRW WHEAT TOLEDO OH -8 + N UNC CINCINNATI OH -10 + N UNC DECATUR IN -15 + N UNC BURNS HARBOR IN -20 + N UNC NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted, NC = Not comparable, DP = Delayed Price, 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 Marguerita Choy)

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