CHICAGO, March 10 (Reuters) - Basis bids for corn and soybeans were largely lower in the U.S. Midwest on Tuesday as farmers took advantage of a recent rally in corn and soy prices to sell.

• U.S. corn and wheat futures fell for a second straight session on Tuesday as tumbling crude oil prices fueled profit taking in grains after a surge to multi-month peaks a day earlier.

• A closely followed monthly crop supply and demand report from the U.S. Department of Agriculture, released at midmorning, garnered little reaction from the market as the agency's changes from its prior month forecasts were minimal.

• CBOT most-active soybeans were last 1-3/4 cents higher to $11.98 per bushel. Most-active corn was last down 4-1/4 cents to $4.49-1/2 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 Cynthia Osterman)

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