US Cash Grains — Corn, soy basis mostly steady amid harvest

CHICAGO, Oct 12 (Reuters) — Basis bids for corn and soybeans were steady on Monday as farmers focused on an accelerating harvest. Weather conditions favored fieldwork in most of the US Midwest this week, enabling farmers to catch up on harvesting, especially for soybeans, following rain delays in late September and early October. The US Department of Agriculture was scheduled to release updated weekly harvest progress estimates on Tuesday, a day later than normal due to Monday's federal holiday. On the Chicago Board of Trade, December corn futures settled 3-1/4 cents higher at $4.83 per bushel. CBOT November soybeans ended down 4-1/4 cents at $12.87-3/4 a bushel. GRA/ Basis values are quoted against CBOT futures in cents/bu: Curr Prev ent ious Bid Bid Chicago, Illinois Corn processors +0 + Z +0 + Z UNC Corn elevators +0 + Z +0 + Z UNC Soybean elevators -20 + X -20 + X UNC Wheat elevators -20 + X -20 + X UNC Wheat processors +5 + Z +5 + Z UNC Decatur IL corn +0 + Z +0 + Z UNC Decatur IL soybeans -15 + X -15 + X UNC Burns Harbor IN corn UNQ UNQ UNC Burns Harbor IN soy UNQ UNQ UNC Lafayette IN soy -25 + X -25 + X UNC Toledo OH (port) Corn -15 + Z -20 + Z UP 5 Soy -30 + X -30 + X UNC S