Corn, soybean bids mostly steady; sales slow

Spot basis bids for corn and soybeans were mostly steady at elevators and processors around the U.S. Midwest on Tuesday, grain dealers said.

* Farmers were reluctant to book sales of either old-crop or new-crop supplies, dealers said.

* The slow old-crop movement stemmed from weakness in the futures market that pulled cash prices for both commodities below growers' targets.

* On the new-crop front, farmers wanted to see how their corn and soybeans developed through early stages of growth before committing to deals for crops they will harvest this fall.

* Although the basis was mostly steady, corn bids rose by 5 cents a bushel at a river terminal near Davenport, Iowa, and soybean bids rose by 10 cents a bushel at a Des Moines, Iowa, processor.

Basis values are quoted against CBOT futures in cts/bu:

NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted,

NC =Not comparable, DP = Delayed Price, N/A = Not available,

F = January, H = March, K = May, N = July, Q = August, U = September, X = November, Z = December

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LINKS: (0#USCSHGRN-AM)

For U.S. forward basis spreadsheets, please click on:

(CORN/BASIS), (SOYA/BASIS), (WHEAT/BASIS), (MILO/BASIS)

- CBOT corn report

- CBOT soybean report

- CBOT wheat report

- U.S. grain barge freight values

- U.S. Midwest cash grain AM

- U.S. CIF/FOB Gulf Grain