CHICAGO, March 13 (Reuters) - Basis bids for corn and soybeans were mostly steady in the U.S. Midwest on Friday as a massive wave of farmer selling eased.

• U.S. grain prices have surged since the Iran war began, triggering a flurry of corn and soybean sales by farmers who squirreled away last year's harvests due to weak prices.

• Since the U.S. and Israel attacked Iran, farmers across the Midwest have capitalized on climbing prices by selling corn, soy and wheat from storage bins to ethanol producers and major traders including Archer-Daniels-Midland ADM.N and Bunge BG.N.

• Chicago soybean futures edged lower on Friday after hitting a near two-year high in the previous session, as a pause in oil's rally and a stronger dollar helped curbed prices.

• Corn, which like soyoil is widely used in biofuel, also eased.

• Chicago Board of Trade most-active soybeans were last down 14-1/4 cents to $12.13 per bushel. Most-active corn was last down 1/2 cent to $4.62 per bushel.

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

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 Heather Schlitz; Editing by Krishna Chandra Eluri)

((Heather.Schlitz@thomsonreuters.com;))