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

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
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)

About the author



Stories from our other publications