US Cash Grains-Soy basis up, corn bids fall as futures rise

CHICAGO, Jan 6 (Reuters) - Spot basis bids for corn fell and soy bids ticked up on Monday as futures gained strength from dry conditions in South America and a weaker U.S. dollar.

* The spot basis for corn ticked down at a Nebraska elevator, Iowa processor and an Illinois river terminal.

* The soy basis ticked up at an Ohio elevator and an Illinois river terminal.

* Most locations have rolled their soybean basis to the CBOT March soybean contract SH25 as the January futures contract SF25 nears its Jan. 14 expiration.

* Hot, dry weather in Argentina threatened the country's corn and soy crop, though possible rain in the next two weeks may ease heat stress, an analyst note said.

* Corn and soy futures have also drawn support from a slide in the U.S. dollar, which makes U.S. grain cheaper for overseas buyers.

* The dollar lost 1% on Monday after a report said President-elect Donald Trump was considering tariffs that would only be applied to critical imports, potentially a relief for countries that were expecting broader levies.

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-PM

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

CORN/BASIS, SOYA/BASIS, WHEAT/BASIS, MILO/BASIS

- CBOT corn report COR/

- CBOT soybean report SOY/C

- CBOT wheat report WHE/C

- U.S. grain barge freight values BG/US

- U.S. Midwest cash grain PM GRA/PM

- U.S. CIF/FOB Gulf Grain GRA/F

(Reporting by Heather Schlitz; editing by Barbara Lewis)

((Heather.Schlitz@thomsonreuters.com;))