U.S. Cash Grains-Corn basis eases as harvest advances

Oct 16 (Reuters) – Cash basis bids for corn weakened in the U.S. Midwest on Thursday as farmers prepared to speed up the pace of harvest after rain-related delays, grain merchants said.

* Cash basis bids for soybeans held mostly steady.

* Forecasts for warmer, drier weather in the Corn Belt fueled expectations that harvests will advance, bringing fresh supplies of grain in from the fields, merchants said.

* Chicago Board of Trade corn and soy futures rose on Thursday in a rebound from losses the previous session.

* Corn futures are hovering about 10 percent above their five-year low of $3.18-1/4 reached on Oct. 1 after a rainy start to the month sparked the biggest corn rally in 1-1/2 years.

Basis values are quoted against CBOT futures in cts/bu: 
 Chicago                                                   
 Corn processors            -3  +  Z          +0  +  Z     DN 3
 Corn elevators            -30  +  Z         -30  +  Z     UNC
 Soybean elevators          +0  +  X          +0  +  X     UNC
 Wheat elevators           -15  +  Z         -15  +  Z     UNC
 Wheat processors          +15  +  Z         +15  +  Z     UNC
 Decatur, IL corn          -22  +  Z         -22  +  Z     UNC
 soybeans                   +5  +  X          +5  +  X     UNC
 Burns Harbor, IN corn     -38  +  Z         -35  +  Z     DN 3
 soy                       -15  +  X         -15  +  X     UNC
 Lafayette, IN soy         -25  +  X         -25  +  X     UNC
 Toledo, OH (port)                                         
 Corn                      -14  +  Z         -14  +  Z     UNC
 Soy                       -10  +  X          -9  +  X     DN 1
 SRW wheat                 +14  +  Z         +14  +  Z     UNC
 Davenport, IA (river)                                     
 Corn                      -40  +  Z         -40  +  Z     UNC
 Soy                       -22  +  X         -22  +  X     UNC
 Evansville, IN (rail)                                     
                                                           
 15-car CSX corn            -5  +  Z          -5  +  Z     UNC
 Cincinnati, OH (rail)                                     
 3-car corn                -20  +  Z         -20  +  Z     UNC
 Hereford, TX corn         +95  +  Z        +120  +  Z     DN 25
 Columbus OH (rail)                                        
 3-car corn                -10  +  Z         -10  +  Z     UNC
 Morris, IL (river)                                        
                                                           
 Corn                      -50  +  Z         -48  +  Z     DN 2
 Soybeans                  -12  +  X         -12  +  X     UNC
	
Fort Worth, TX corn +13 + Z +120 + Z UP 10 0 Blair, NE corn -10 + Z -5 + Z DN 5 Council Bluffs, IA (elevator) Corn -41 + Z -41 + Z UNC Soy -55 + X -55 + X UNC Des Moines, IA soy UNQ UNQ UNC Sioux City, IA soy -55 + X -55 + X UNC NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted, NC = Not comparable, DP = Delayed Price, X = November, Z = December ---------------------------------------------------------------- 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 Tom Polansek in Chicago, editing by G Crosse)

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