US Cash Grains-Corn, soy bids higher as farmers hesitate to sell

CHICAGO, April 11 (Reuters) - Spot basis bids for corn and soybeans were mostly higher in the U.S. Midwest on Friday while futures bounced and buyers attempted to entice farmer selling.

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

* The soy basis rose at an Ohio elevator, a Nebraska processor and an Iowa river terminal.

* The cash trade has been relatively muted amid slow selling from farmers, who are reluctant to book sales on their crops as they focus on spring planting and planting preparations.

* The week has been marked by increasing basis bids.

* Relatively low futures prices and uncertainty over tariffs have also given farmers little incentive to sell.

* 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 projected larger exports.

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

* CBOT May soybeans SK25 were last up 14-1/2 cents to $10.43-3/4 a bushel as of midday. May corn CK25 was last up 5-1/2 cents to $4.88-1/2 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