CIF Gulf Grain-Corn bids steady-higher, barge freight rates firm

Nov 11 (Reuters) - Basis bids for corn shipped by barge to
the U.S. Gulf Coast were steady to higher early on Monday,
supported by firm barge freight rates and moderately tight
supplies in the export pipeline, traders said.
    * CIF wheat basis bids were mostly steady to slightly
higher, underpinned by higher freight rates, while CIF soybean
basis bids were steady to lower.
    * Barge freight rates were steady to firm on the Illinois
and Mississippi rivers amid good demand for freight. Rates were
higher on the lower Ohio as delays at lock 52 near Paducah,
Kentucky, due to lock repair work limited the number of empty barges available to shippers. * The U.S. Agriculture Department will not issue crop condition and progress reports on Monday due to the Veterans Day federal holiday. Weekly grain export inspections data will also not be issued. The reports are to be delayed until Tuesday. * Chicago Board of Trade corn futures were up nearly 2 percent early on Monday and were on pace for their strongest two-session rally since August. Soybeans eased. * Farmers were delivering previously contracted grain to river elevators and some were booking new sales of corn amid the price rally. Still, exporters needed more corn barges at the Gulf to meet export commitments. * CIF basis bids for corn barges loaded in November were 2 to 4 cents higher at 80 cents per bushel over CBOT December futures. December barges were up 2 cents at 76 over. * CIF basis bids for soybean barges loaded in November were 2 cents lower at 102 cents over CBOT January futures. December barges were 1 to 2 cents lower at 103 over. * CIF basis bids for soft red winter wheat barges loaded in the first half of November gained 5 cents to 95 cents a bushel over CBOT December wheat futures. Last-half November
barges were bid steady at 90 over. 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 John Wallace)

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