CIF Gulf Grain-Corn basis higher on firm barge freight, soy weak

Nov 13 (Reuters) - Basis bids for corn shipped by barge to
the U.S. Gulf Coast were higher early on Wednesday on good
demand and firm nearby freight costs, traders said.
    * CIF soybean basis bids were steady to weak, pressured by
increased supplies following a wave of farmer selling earlier
this week, much of it for nearby delivery. But steady exporter
demand limited declines.
    * CIF wheat basis bids were unchanged.
    * Barge freight rates for nearby shipments via Midwest
waterways were firm as heavy country movement of newly harvested
corn bolstered demand for freight.
* Spot rates on the lower Ohio River were also supported by delays at Lock 52 near Paducah, Kentucky, due to repair work, which limited the number of empty barges available to shippers. Freight on the lower Ohio traded on Wednesday morning up to 800 percent of tariff, up 50 points from a day earlier, a trader said. * The U.S. Department of Agriculture on Wednesday confirmed private sales of 123,000 tonnes U.S. soybeans to China for 2013/14 delivery. That followed 116,000 tonnes in sales to China confirmed on Tuesday. * CIF basis bids for corn barges loaded in November were 3 cents higher at 84 cents per bushel over CBOT December futures. Bids for barges loaded this week were bid at a 2 cent premium to full-month November bids. * CIF basis bids for soybean barges loaded in November were a penny lower at 97 cents over CBOT January futures. First-half December barge bids were steady at 103 over. * CIF basis bids for soft red winter wheat barges loaded in the first half of November were 95 cents a bushel over CBOT December wheat futures, and last-half November barges were bid 90 over, both steady. To check displays of CIF basis, double-click on following: U.S. CIF Gulf soybeans U.S. CIF Gulf corn
U.S. CIF Gulf SRW wheat U.S. CIF Gulf HRW wheat LINKS: * FOB U.S. Gulf Coast Grain * U.S. grain export summary * Brazil soybean export prices * Brazil corn export prices * U.S. barge freight (Reporting by Karl Plume in Chicago; Editing by Theodore d'Afflisio)

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