Aug 6 (Reuters) – Spot corn and soybean basis bids were steady to lower at elevators and processors around the U.S. Midwest on Wednesday in quiet trade, dealers said.
* Corn bids fell by 2 cents to 4 cents per bushel at an elevator and processor in Chicago.
* Few farmers sold corn or soy, but several sold light amounts of soft red winter wheat as U.S. wheat futures rose more than 2 percent, dealers said.
* Chicago Board of Trade wheat futures were boosted by concerns about political tension in the Black Sea grain region.
* Some farmers took advantage of the wheat rally and priced SRW wheat placed in delayed pricing programs last month, a dealer said.
* A SRW wheat bid rose 5 cents per bushel in Chicago and 10 cents per bushel in Ohio. Dealers increased bids in an effort to entice farmers to market as CBOT wheat futures rose.
* The U.S. Department of Agriculture’s August Crop Production report is scheduled to be released at 12 p.m. EDT (1600 GMT) next Tuesday.
Basis values are quoted against CBOT futures in cts/bu: Current Previous Bid Bid Chicago, Illinois Corn processors +18 + U +22 + U DN 4 Corn elevators -2 + U +0 + U DN 2 Soybean elevators +125 + X +125 + X UNC Wheat elevators -5 + U -5 + U UNC Wheat processors -10 + U -15 + U UP 5 Decatur IL corn +30 + U +30 + U UNC Decatur IL soybeans +180 + X +180 + X UNC Burns Harbor IN -14 + U -14 + U UNC corn Burns Harbor IN soy +125 + X +125 + X UNC Lafayette IN soy UNQ X UNQ X UNC Toledo OH (port) Corn -9 + U -9 + U UNC Soy +170 + X +170 + X UNC SRW wheat +15 + U +5 + U UP 10 Davenport IA (river) Corn +4 + U +2 + U UP 2 Soy +100 + X +110 + X DN 10 Evansville IN (rail)15-car CSX corn +12 + U +12 + U UNC Cincinnati OH (rail) 3-car corn -5 + U -5 + U UNC Hereford TX corn +120 + U +120 + U UNC Columbus OH (rail) 3-car corn +0 + U +0 + U UNC Morris IL (river) Corn +5 + U +5 + U UNC Soybeans +35 + Q +35 + Q UNC Fort Worth TX corn +120 + U +120 + U UNC Blair NE corn -8 + U -8 + U UNC Council Bluffs, IA (elevator) Corn -15 + U -15 + U UNC Soy +100 + X +100 + X UNC Des Moines IA soy UNQ UNQ UNC Sioux City IA soy +115 + X +115 + X UNC NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted, NC = Not comparable, DP = Delayed Price, Q = August, U = September, X = November ---------------------------------------------------------------- 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)