US Cash Grains-Corn, soy basis rise as farmer selling halts

CHICAGO, April 10 (Reuters) - Spot basis bids for corn and soybeans were steady to higher in the U.S. Midwest on Thursday as nearly nonexistent farmer selling led buyers to raise basis bids, dealers said.

* The corn basis rose at an Iowa processor and an Iowa river terminal.

* The soy basis rose at an Indiana processor and an Iowa river terminal.

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

* U.S. corn inventories will be tighter than previously expected before the next harvest, the U.S. Department of Agriculture said on Thursday, as it raised its forecast for exports.

* The USDA lowered its 2024-25 corn stocks forecast to 1.465 billion bushels in a monthly report from 1.54 billion in March. Analysts expected 1.51 billion, according to a Reuters poll.

* The agency raised its export forecast to 2.55 billion bushels from 2.45 billion bushels.

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

* CBOT May soybeans SK25 were last up 7-1/4 cents to $4.81-1/4 a bushel as of midday. May corn CK25 was last up 12-1/2 cents to $10.25-1/2 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

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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