CIF Gulf Grain-Corn, soy steady to firm on higher barge freight

Nov 12 (Reuters) - Basis bids for corn and soybeans shipped
by barge to the U.S. Gulf Coast were steady to firm early on
Tuesday, supported by higher nearby freight costs and moderate
exporter demand, traders said.
    * CIF wheat basis bids were mostly steady to slightly lower.
    * 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. * The U.S. Agriculture Department will issue crop condition and progress reports on Tuesday afternoon, delayed by a day due to the Veterans Day federal holiday. * Weekly grain export inspection data will be issued later on Tuesday morning. Wheat inspections last week were estimated at 6 million to 12 million bushels, corn at 28 million to 32 million and soybeans at 75 million to 85 million. * CIF basis bids for corn barges loaded in November were 2 cents to 3 cents higher at 82 cents per bushel over CBOT December futures. First-half December barge bids were 2 cents higher at 80 over. * CIF basis bids for soybean barges loaded in November were a penny higher at 103 cents over CBOT January futures. First-half December barge bids were 1 cent higher at 105 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 Lisa Von Ahn)

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