US Cash Grains — Soybean basis mostly flat as futures dive, corn bids mixed

CHICAGO, Sept 18 (Reuters) — Spot cash basis bids for soybeans delivered to U.S. Midwest elevators and crush plants were mostly steady on Friday while corn basis bids were unchanged at elevators and mixed at processing facilities, grain merchants said. Farmer selling was slow on Friday as Chicago Board of Trade futures prices dropped. Spot soybean bids in the western Midwest remain well supported by strong demand from some processors for deliveries over the next week. Some crushers were short of needed supplies after harvesting delays due to rain and forecasts for more storms next week, merchants said. A soy processor in Lincoln, Nebraska, offered a 50-cent-per-bushel premium for beans delivered by next Tuesday versus beans delivered later in September. Bids for soybeans delivered to a Council Bluffs, Iowa, crusher by Saturday were at a 90-cent premium over bids for beans delivered through the end of the month. A Sioux City, Iowa, crush plant also offered a 90-cent premium for deliveries by Monday. CBOT November soybeans were down 17-3/4 cents at midmorning on Friday at $13.02 a bushel, while December corn was down 4-1/4 cents at $5.26-1/4 a bushel. Basis values are quoted against