CHICAGO, Jan 15 (Reuters) - Spot basis bids for corn and soy were mostly steady to lower at elevators, ethanol plants, river terminals and other types of processors around the U.S. Midwest on Wednesday following a round of farmer sales.

* Corn and soy futures steadied near multi-month highs hit earlier in the week, following a U.S. Department of Agriculture report Friday that showed crop estimates lower than trade expectations. The rally prompted a round of farmer sales, according to analysts.

* The spot basis for corn fell at an elevator in Lincoln, Nebraska, a river terminal in Toledo, Ohio and an ethanol plant in Council Bluffs, Iowa.

* The soy basis dropped at processors in Decatur, Illinois and Cedar Rapids, Iowa.

* Soybean futures Sv1 were up 1-1/4 cents at $10.48-3/4 a bushel at 11:33 a.m. (1733 GMT).

* Corn futures Cv1 were up 3-1/2 cents at $4.78 per bushel.

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

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 = JulyQ = August, U = September, X = November, Z = December

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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 Renee Hickman; Editing by Shounak Dasgupta)

((renee.hickman@thomsonreuters.com))