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;))