US Cash Grains-Corn, soy basis higher on uptick in end user demand

CHICAGO, April 9 (Reuters) - Spot basis bids for corn and soybeans rose across the U.S. Midwest on Wednesday as a small increase in demand led to rising basis bids, dealers said.

The corn basis rose at two river terminals and an Indiana ethanol plant and fell at an Illinois ethanol plant.

The soy basis rose at an Ohio elevator, two Indiana processors, an Illinois river terminal and an Iowa river terminal.

Farmer selling has been slow amid depressed corn and soy prices and preparations for spring planting.

Some farmers may be waiting until they have planted their corn and soy crops before they make selling decisions, an analyst said.

Chicago soybean futures traded both sides of unchanged on Wednesday, brushing off some earlier selling pressure after China raised its tariffs on U.S. goods to 84% from 34%.

China is the world's biggest soy buyer and takes in around half of U.S. soybean exports each year.

Rains have delayed corn and soy planting in parts of the U.S.

Traders were also positioning themselves ahead of a U.S. Department of Agriculture supply and demand report due for release on Thursday.

CBOT May soybeans SK25 were last up 1-1/4 cents at $9.94 a bushel as of midday. May corn CK25 was last down 2-1/2 cents to $5.37-1/2 a bushel.

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

--------------------------------------------------------

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