CIF Gulf Grain-Soybean basis holds steady as cold slows movement

Dec 12 (Reuters) - Basis bids for soybeans shipped by barge
to the U.S. Gulf Coast were mostly steady early on Thursday,
underpinned by moderate exporter demand and slow movement of
supplies through the shipping pipeline, traders said.
    * CIF corn basis bids were narrowly mixed and wheat basis
bids were steady to firm.
    * Spot barge freight rates were about unchanged amid slow
grain loading and slowed river navigation due to frigid weather
around the Midwest. Ice forming around barges slowed movement
through locks in northern areas, traders said.
    * Temperatures fell to zero degrees Fahrenheit (minus 17.8
Celsius) or a few degrees below on Thursday in much of the central Midwest, with colder readings in the north, forecasters said. * Spot barges loaded in St. Louis and south, including the Ohio River, were at a 1 cent-per-bushel premium to bids with no loading location specifics because of concerns about ice building slowing deliveries, a trader said. * Bids for soybeans delivered by rail to the Gulf of Mexico have also increased about 3 to 4 cents per bushel this week as exporters turned to other transportation methods to transfer supplies to export elevators amid concerns about river ice. * CIF basis bids for soybean barges loaded in the first half of December were 104 cents over Chicago Board of Trade January futures and last-half December loadings were bid 100 over, both about steady. * CIF basis bids for corn barges loaded in the first half of December were down a penny at 70 cents per bushel over CBOT March futures while last-half December bids gained a penny to 74 over. * CIF basis bids for December soft red winter wheat barges were 5 cents higher at 100 cents over CBOT March futures. 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 Maureen Bavdek)

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