Soybean basis mixed as weekend rains stall Midwest harvest

CHICAGO, Sept 21 (Reuters) — Spot basis bids for soybeans were steady to mixed in the US Midwest on Monday as weekend rains slowed harvest progress in the northern half of the crop belt, spot checks showed. The spot basis for soybeans at a crushing facility in Lincoln, Nebraska, jumped by 35 cents to 85 cents a bushel over Chicago Board of Trade November soybean futures, reflecting strong demand for soybeans delivered into the region's processing plants this week. Bids were significantly lower for soybean delivery to Lincoln next week and through October. In contrast, the soybean basis fell by 30 cents a bushel at a crusher in Decatur, Indiana. While still in the early stages, the Indiana soybean harvest was 3% complete as of September 13, ahead of the five-year average of 2%, according to the US Department of Agriculture. Ahead of the USDA's weekly crop progress report due later on Monday, analysts polled expected the agency to show the US soybean harvest as 12% complete and the corn harvest as 13% complete. Corn basis bids were mostly steady. Among the exceptions on Monday, the basis improved by 5 cents a bushel at an ethanol plant in Linden, Indiana, while the basis fell by 3 cents at Davenport, Iowa, on the Mississippi River. CBOT November soybeans were up 23-1/2 cents at midday on Monday at $13.27 a bushel while December corn was up 15 cents at $5.42-1/2 a bushel. Grains firmed as traders await this week's meeting between US President Donald Trump and Chinese President Xi Jinping, which could generate more Chinese buying of US supplies. GRA/ Basis values are quoted against CBOT futures in cts/bu: ELEVATORS COR SOYBEANS N CINCINNATI OH -42 + Z UNC -38 + X UNC BURNS HARBOR UNQ UNC UNQ UNC In DECATUR IN UNQ UNC UNQ UNC DES MOINES IA UNQ UNC UNQ UNC LINCOLN NE -45 + Z UNC -30 + X UNC Processors COR SOYBEANS N DECATUR IL -15 + Z UNC -20 + X UNC DECATUR IN +5 + X UNC MORRISTOWN IN +0 + X DN 30 LAFAYETTE IN +10 + X UNC CEDAR RAPIDS -22 + Z UNC -30 + X UNC Ia COUNCIL BLUFFS +75 + X UNC Ia LINCOLN NE +85 + X UP 35 BLAIR NE -18 + Z UNC River Terminals COR SOYBEANS N TOLEDO OH -15 + Z UNC -20 + X UNC SENECA IL -34 + Z UNC -25 + X UNC SAVANNA IL -39 + Z UNC -56 + X DN 1 DAVENPORT IA -78 + Z DN 3 -70 + X UNC Ethanol Plants LINDEN IN +5 + Z UP 5 UNION CITY IN -5 + Z UNC ANNAWAN IL -40 + Z UNC COUNCIL BLUFFS -15 + Z UNC Ia Srw Wheat TOLEDO OH -30 + Z UNC CINCINNATI OH -38 + N UNC DECATUR IN -35 + N UNC BURNS HARBOR UNQ UNC In 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 Links: For U.S. forward basis spreadsheets, please click: - 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 Julie Ingwersen Editing by David Goodman ) ((Julie.ingwe