US Cash Grains-Corn, soy basis bids mostly steady while futures gain

CHICAGO, April 10 (Reuters) - Spot basis bids for soybeans and corn were mostly steady in the U.S. Midwest on Thursday as farmer selling ground to a halt and corn and soy futures recovered, dealers said.

* The corn and soy basis increased at an elevator in Iowa.

* Farmers busy with spring planting and planting preparations have been reluctant to sell their crop, dealers said.

* Chicago soybean futures extended gains on Thursday as the U.S. Department of Agriculture released its monthly supply and demand numbers, and delays to some U.S. and European Union tariffs eased concerns about U.S. crop exports.

* Corn also firmed while wheat eased on the USDA data release.

* The USDA lowered its 2024-25 corn stocks forecast on Thursday to 1.47 billion bushels from 1.54 billion in March. Analysts had expected 1.51 billion, according to a Reuters poll.

* The USDA estimated domestic soybean stocks at 375 million bushels, compared to its March estimate for 380 million and analysts' expectations for 379 million.

* CBOT May soybean futures SK25 settled up 16-1/4 cents at $10.29 a bushel.

* May corn futures CK25 ended up 9 cents at $4.83 a bushel, having hit its highest point since February 27 earlier in the session.

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