U.S. Cash Grains-Soybean processor bids increase due to tight old-crop supplies

Aug 15 (Reuters) – Spot soybean basis bids jumped at processors around the U.S. Midwest again on Friday amid an effort to secure crushing supplies until the fall harvest begins, dealers said.

* Basis bids increased by as much as 20 cents per bushel at processors in Illinois, Indiana and Iowa in an effort to entice farmers to sell any remaining old-crop supplies, dealers said.

* Corn basis bids were steady to slightly higher in slow trade. Farmers sold light amounts of old-crop supplies in northern Ohio.

* Spot corn basis bids rose by 1 cent per bushel at a processor in Nebraska. A bid for corn shipped by rail to Texas also increased by 6 cents per bushel.

* The National Oilseed Processors Association on Friday said its U.S. members crushed a bigger-than-expected 119.620 million bushels in July, a surprise increase from the 118.718 million bushels crushed in June.

Basis values are quoted against CBOT futures in cts/bu:
    
                    Current            Previous         
                    Bid                Bid              
 Chicago, Illinois                                      
 Corn processors     +20   +  U             +20   +  U  UNC
 Corn elevators       +0   +  U              +0   +  U  UNC
 Soybean elevators  +175   +  X            +155   +  X  UP 20
 Wheat elevators      -5   +  U              -5   +  U  UNC
 Wheat processors    -10   +  U             -10   +  U  UNC
 Decatur IL corn     +30   +  U             +30   +  U  UNC
 Decatur IL         +225   +  X            +205   +  X  UP 20 
 soybeans                                               
 Burns Harbor IN      -8   +  U              -8   +  U  UNC
 corn                                                   
 Burns Harbor IN    +175   +  X            +175   +  X  UNC
 soy                                                    
 Lafayette IN soy   +245   +  X            +225   +  X  UP 20
 Toledo OH (port)                                       
 Corn                 -3   +  U              -3   +  U  UNC
 Soy                +170   +  X            +170   +  X  UNC
 SRW wheat           +15   +  U             +15   +  U  UNC
 Davenport IA                                           
 (river)                                                
 Corn                 +4   +  U              +4   +  U  UNC
 Soy                +105   +  X            +105   +  X  UNC
 Evansville IN                                          
 (rail)                                                 
 15-car CSX corn     +12   +  U             +12   +  U  UNC
 Cincinnati OH                                          
 (rail)                                                 
 3-car corn           -3   +  U              -3   +  U  UNC
 Hereford TX corn   +106   +  U            +100   +  U  UP 6
 Columbus OH                                            
 (rail)                                                 
 3-car corn          +10   +  U             +10   +  U  UNC
 Morris IL (river)                                      
 Corn                +12   +  U             +12   +  U  UNC
 Soybeans           +210   +  X            +210   +  X  UNC
 Fort Worth TX      +110   +  U             UNQ   +  U  NC
 corn                                                   
 Blair NE corn        -3   +  U              -4   +  U  UP 1
	
Council Bluffs, IA (elevator) Corn -8 + U -8 + U UNC Soy +100 + X +100 + X UNC Des Moines IA soy UNQ UNQ UNC Sioux City IA soy +175 + X +150 + X UP 25 NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted, NC = Not comparable, DP = Delayed Price, 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 Chris Reese)

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