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 PROCESSORS 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 UNCANNAWAN 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)