US Cash Grains — Corn, soy bids mostly flat to higher

CHICAGO, Oct 16 (Reuters) — Spot basis bids for corn and soybeans were largely steady to up on Friday at elevators, processors and river terminals in a spot check of locations in the U.S. Midwest, as futures fell. Soybean basis bids rose at processors in Decatur, Illinois, Decatur, Indiana and Lafayette, Indiana, and a river terminal in Seneca, Illinois. The corn basis strengthened at a processing plant in Decatur, Illinois and elevator in Blair, Nebraska. Corn edged down to hold near a seven-week low from last Friday when an unexpected increase to the US Department of Agriculture's harvest forecast dampened sentiment. GRA/ Soybean futures extended losses to a new seven-week low as an advancing US harvest, expected to bring a record volume, took attention away from renewed Chinese purchases. A drier break in the weather in the US Midwest until the 6-10 day period is expected to improve the pace of the harvest. CBOT most active soybeans fell 1-3/4 cents to $12.61-1/4 a bushel at 12:55 p.m. CDT (1755 GMT). Most active corn dropped 3-1/4 cents to $4.74-3/4 per bushel. Basis values are quoted against CBOT futures in cts/bu: Elevators CORN SOYBEANS CINCINNATI OH -30 + Z UNC -22 + X UP 2