U.S. Cash Grains-Corn, soy basis bids steady; quiet trade

May 19 (Reuters) – Corn spot basis bids were steady at elevators and processors in the U.S. Midwest early on Monday in quiet trade as farmers waited for drier field conditions, grain merchants said.

* Wet fields in the Eastern Corn Belt kept most farmers from resuming planting activity over the weekend, farmers said.

* Some farmers priced new crop corn and booked January 2015 contracts in western Indiana, a grain merchant said.

* Corn planting was largely completed in Iowa, and some farmers began to plant soybeans, a grain merchant in the western part of the state said. But some corn may need to be replanted due to frost damage, the dealer said.

* Soybean bids were steady to slightly higher at processors and elevators around the region, while spot wheat bids held steady, dealers said.

* Rain and thunderstorms were forecast for portions of the Western Corn Belt and northern U.S. Plains on Monday, according to the National Weather Service.

* The USDA is scheduled to release its weekly planting progress and conditions on Monday at 3:00 CDT (1800 GMT).

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       +30     +  N  UP 8
 DECATUR IN            -20  +  N  UNC                         
 DES MOINES IA                              UNQ           UNC
 LINCOLN NE            -19  +  N  UNC                     
                     CORN                   SOYBEANS          
 DECATUR IL            +14  +  N  UNC       +45     +  N  UP 5
 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  UNC
 LINCOLN NE                                  +5     +  N  UNC
 BLAIR NE               -8  +  N  UNC                         
 RIVER TERMINALS                                              
                     CORN                   SOYBEANS          
 TOLEDO OH             -19  +  N  UNC       +30     +  N  UNC
 SENECA IL              +0  +  N  DN 1      +12     +  N  UNC
 SAVANNA IL             -5  +  N  UNC       +10     +  N  DN 2
 DAVENPORT IA           +0  +  N  UP 1      +13     +  N  UP 3
 ETHANOL PLANTS                                               
 LINDEN IN              -5  +  N  DN 2                        
 UNION CITY IN          +0  +  N  UNC                         
ANNAWAN IL +0 + N UP 1 COUNCIL BLUFFS IA -12 + N UNC 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 Tom Brown)

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