US Cash Grains-Soy, corn basis bids steady to lower after active trade week

CHICAGO, Jan 17 (Reuters) - Basis bids for soybeans and corn were flat to lower at elevators, river terminals and processors in the U.S. Midwest on Friday after another busy day of farmer sales to close out the week, according to dealers.

* The soy basis fell at a processor in Des Moines, Iowa.

* The corn basis fell at a grain elevator in Blair, Nebraska.

* Futures for both corn and soy rallied earlier in the week on a U.S. Department of Agriculture supply and demand report showing lower-than-expected crop estimates, which sparked a round of farmer sales.

* Corn and soy futures shot up again on Friday with renewed concerns about dry weather in Argentina and U.S. President-elect Donald Trump saying he discussed trade with Chinese President Xi Jinping in a phone call.

* Market analysts said anything indicating a less confrontational relationship with China would be supportive, given fears about Trump's proposed tariffs reheating a trade war with the world's second-largest economy.

* CBOT benchmark corn futures Cv1 ended up 9-3/4 cents at $4.84-1/4 per bushel, after reaching $4.85, the highest on a continuous chart of the most-active corn contract since mid-December 2023.

* CBOT benchmark soybeans Sv1 settled up 15 cents at $10.34 per bushel.

Basis values are quoted against CBOT futures in cents/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 COR/

- CBOT soybean report SOY/C

- CBOT wheat report WHE/C

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

- U.S. Midwest cash grain AM GRA/M

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

(Reporting by Renee Hickman in Chicago; Editing by Nia Williams)

((renee.hickman@thomsonreuters.com))