CIF Gulf Grain-Corn bids mostly steady, soy steady-firm

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Nov 25 (Reuters) - Basis bids for corn shipped by barge to
the U.S. Gulf Coast were mostly steady early on Tuesday while
soybean basis bids were steady to firm, underpinned by steady
export demand, traders said.
* CIF wheat basis bids were mostly steady to higher, with
spot soft red winter wheat bids supported by good demand from at
least one short-bought exporter, traders said.
* Barge freight rates were mostly flat following a steep
drop last week triggered by improved vessel navigation on the
lower Ohio River.
* The Army Corps of Engineers raised the dam at lock 52 on

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the lower Ohio River and some vessels were delayed at the lock,
which is currently under repair.
* A boat carrying about 100,000 gallons of petroleum
products sunk in the Mississippi River just upriver from
Davenport, Iowa. Officials were coordinating salvage operations
but it did not appear that river traffic was severely impeded.

* Soybean basis values for late December and January barge
loadings were supported by strong demand from exporters in need
of supplies for early 2014 export commitments.
* The U.S. Department of Agriculture on Tuesday confirmed
the cancellation of 300,000 tonnes in U.S. soybean sales to
China and the sale of 360,000 tonnes to unknown destinations,
both for 2013/14 delivery. Traders said the transactions were
likely paper trades between importers.
* CIF basis bids for soybean barges loaded in November held
steady at 97 cents over CBOT January futures. First-half

December basis bids were a penny higher at 100 cents over
futures, while last-half December bids gained 2 cents to 104
over.
* CIF basis bids for corn barges loaded in November were
unchanged at 83 cents per bushel over Chicago Board of Trade
December futures.
* CIF basis bids for spot SRW wheat barges rose 10 cents to
110 cents over CBOT December wheat futures against no
offers. December barge bids held steady at 100 cents over for
the first half of the month at 95 over for the last half.

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)