U.S. Cash Grains-Corn bids steady to lower as futures rise

Nov 11 (Reuters) - Corn spot basis bids were steady to lower
across the U.S. Midwest early on Monday after farmers increased
sales amid rising futures at the Chicago Board of Trade, dealers
    * There was only light selling interest to start the week
but farmers were big sellers on Friday after a U.S. Agriculture
Department report estimating increased demand for the yellow
grain sent futures soaring.
    * Corn futures were up more than 1 percent in early
activity, heading for their biggest two-day gains since August.
Still, prices are hovering right above a three-year low,
limiting country sales. * The corn basis eased 6 cents per bushel at an ethanol plant in Council Bluffs, Iowa, and fell 2 cents late on Friday at a closely monitored processor in Decatur, Illinois. * Bids for corn and soybeans were firm in Toledo, Ohio, while the soybean basis was largely steady elsewhere in the Midwest as a modest bump in sales was offset by good demand from crushers and exporters. * Farmers are expected to resume the harvest this week, finishing up cuttings of both corn and beans under generally dry weather early this week, a meteorologist said. * USDA will not release export inspections of crop progress reports until Tuesday as the government is closed in observance of Veterans Day. Basis values are quoted against CBOT futures in cts/bu: CORN SOYBEANS CINCINNATI OH -15 + Z UNC +0 + F UNC BURNS HARBOR IN -27 + Z UNC -6 + F UNC DECATUR IN -25 + Z UNC DES MOINES IA -5 + F UNC LINCOLN NE -5 + Z UNC PROCESSORS CORN SOYBEANS DECATUR IL +10 + Z DN 2 +15 + F UNC DECATUR IN +3 + F UNC MORRISTOWN IN +5 + F UNC LAFAYETTE IN +7 + F UNC CEDAR RAPIDS +18 + Z UNC +5 + F UNC COUNCIL BLUFFS -8 + F UNC LINCOLN NE -10 + F UP 5
BLAIR NE +5 + Z UNC RIVER TERMINALS CORN SOYBEANS TOLEDO OH -24 + Z UP 2 +24 + F UP 3 SENECA IL -13 + Z DN 1 +0 + F DN 7 SAVANNA IL -11 + Z UNC +6 + X UNC DAVENPORT IA -6 + Z DN 2 +7 + F UP 1 ETHANOL PLANTS LINDEN IN -15 + Z UNC UNION CITY IN -15 + Z UNC ANNAWAN IL -3 + Z DN 3 COUNCIL BLUFFS IA -8 + Z DN 6 SRW WHEAT TOLEDO -30 + Z UNC CINCINNATI -30 + Z UNC DECATUR IN -10 + Z UNC BURNS HARBOR -35 + Z UNC NOTES: 0 = Option price, UNC = Unchanged, UNQ = Unquoted, NC = Not comparable, DP = Delayed Price, X = November, Z = December, F = January, H = March --------------------------------------------------------------- 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 Michael Hirtzer in Chicago; Editing by Theodore d'Afflisio)

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