Corn, soybean basis mostly steady as futures climb

Basis bids for corn and soybeans were mostly unchanged around the U.S. Midwest on Monday, spot checks of processing sites and grain elevators indicated, as futures markets rallied but farmer selling remained minimal.

* Chicago Board of Trade corn and soybeans climbed on Monday on concerns about weather-damaged crops in Brazil and rain-delayed planting in the United States.

* Farmer selling was limited despite the futures rally as cash corn and soybean prices remained below recent peaks.

* Scattered rain disrupted field work in parts of the Midwest on Monday, and forecasts indicate showers could keep farmers out of their fields through midweek or later.

* The U.S. Department of Agriculture (USDA) said corn planting was 70% complete as of Sunday while soybeans were 52% planted. Both were above average trade expectations.

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

- CBOT soybean report

- CBOT wheat report

- U.S. grain barge freight values

- U.S. Midwest cash grain AM

- U.S. CIF/FOB Gulf Grain