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US Cash Grains-Soy crusher basis bids steady-higher; corn basis flat



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CHICAGO, June 21 (Reuters) -Spot basis bids for soybeans were steady to stronger in the U.S. Midwest on Friday, firming at processing locations after Chicago Board of Trade soybean futures SQ24 dipped to multi-month lows this week, chilling farmer sales.

* The soybean basis firmed by 20 cents at a crushing plant in Council Bluffs, Iowa, and by 15 cents at a Morristown, Indiana, facility.

* Crush margins have improved this week, bolstering crushers' demand for replacement soybeans. The CBOT August board crush 1SMSIQ24-BOQ24-SQ24, one indication of processors' profit margins, was last up 2-1/2 cents at $1.08-1/4 per bushel, up from 90 cents on June 12 and its highest level since last autumn.

* Basis bids for corn remained stagnant as CBOT July corn futures CN24 hit a two-month low in early moves, discouraging producer selling, and a lingering heat wave continued to put a damper on the cash trade.

* Rainfall has alleviated some concerns over heat in the Corn Belt, but weather forecasts for a hot summer could pose a threat to developing corn and soybean crops.

* The U.S. Department of Agriculture reported net export sales of old-crop corn in the week ended June 13 at 511,400 metric tons, below analyst estimates for 700,000 to 1,200,000 tons. EXP/CORN

* The USDA reported net export sales of old-crop soybeans for the week at 556,500 metric tons, in line with analyst estimates for 375,000 to 850,000 tons. EXP/SOY

* Hefty global grain supplies and improved outlooks for Russian wheat production weighed on CBOT corn and wheat futures but soybean futures turned higher, rebounding from multi-month lows set this week. GRA/

* At mid-session, CBOT July soybean futures SN24 were up 9 cents at $11.64-1/4 per bushel while July corn CN24 was down 2-1/4 cents at $4.37-1/2 a bushel.


Basis values are quoted against CBOT futures in cts/bu:

ELEVATORS











CORN




SOYBEANS



CINCINNATI OH

+3

+

N

UNC


+5

+

N

UNC

BURNS HARBOR IN

UNQ



UNC


UNQ



UNC

DECATUR IN

UNQ



UNC






DES MOINES IA




UNQ



UNC

LINCOLN NE

+0

+

N

UNC
















PROCESSORS











CORN





SOYBEANS



DECATUR IL

+15

+

N

UNC


+20

+

N

UNC

DECATUR IN






+15

+

N

UNC

MORRISTOWN IN





+30

+

N

UP 15

LAFAYETTE IN






+5

+

N

UNC

CEDAR RAPIDS IA

+23

+

N

UNC


+10

+

N

UNC

COUNCIL BLUFFS IA






+10

+

N

UP 20

LINCOLN NE






-10

+

N

UNC

BLAIR NE

+25

+

N

UNC
















RIVER TERMINALS











CORN





SOYBEANS



TOLEDO OH

-40

+

N

UNC


-35

+

N

UNC

SENECA IL

-5

+

N

UNC

-10

+

N

UNC

SAVANNA IL

-16

+

N

UNC


-36

+

N

UNC

DAVENPORT IA

-7

+

N

UNC


-3

+

N

UNC











ETHANOL PLANTS










LINDEN IN

+2

+

N

UNC






UNION CITY IN

-12

+

N

UNC






ANNAWAN IL

-6

+

N

UNC






COUNCIL BLUFFS IA

+13

+

N

UNC
















SRW WHEAT










TOLEDO OH

-25

+

N

UNC






CINCINNATI OH

UNQ



UNC






DECATUR IN

-55

+

N

UNC






BURNS HARBOR IN

UNQ



UNC







NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted

NC = Not comparable, DPI = Delayed Price, N/A = Not available,

F = January, H = March, K = May, N = July
Q = August, U = September, X = November, Z = December

--------------------------------------------------------

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



Reporting by Heather Schlitz; Editing by Will Dunham

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