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US Cash Grains-Basis bids flat-lower at soy crushers, ethanol plants

Spot basis bids for soybeans were mostly flat to lower at U.S. Midwest processing plants and river elevators and mostly steady to up slightly at interior elevators, dealers said.

* Spot corn basis bids were steady to down at interior elevators and ethanol plants, while values at other processors were steady to firm.

* Some processors and elevators have lifted spot bids at times this week to attract farmer sales, but the market’s general tone has been weaker as supplies of newly harvested crops are rising.

* Farmers are actively harvesting after scattered rain delays earlier this week. Mostly dry weather is forecast for the Midwest over the next week.

* Many growers are delaying booking any additional sales until after Friday’s U.S. Department of Agriculture (USDA) quarterly grain stocks and small grains summary reports, due for release at 11:00 a.m. CDY (1600 GMT).
Source: Reuters (Reporting by Karl Plume; Editing by Anil D’Silva)

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