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