Basis bids for soyabeans shipped by barge to the US Gulf Coast were steady to lower on Wednesday, pressured by lackluster export demand and better supplies after a round of farmer sales, traders said. Corn barge bids were flat to slightly higher while bids for soft red winter wheat barges and hard red winter wheat trains were largely unchanged.
Traders awaited weekly US Department of Agriculture export sales data due on Thursday. Barge freight costs edged higher on benchmark Mississippi River at St. Louis market, lifted by worries that low water levels may force operators to run lighter loads, a broker said.
A barge loader in Davenport, Iowa, said their elevator this week was loading its last barges of the year as freezing waters and seasonal lock repairs halt shipments until spring. Soyabean barges loaded in the first half of December were bid at 13 cents over Chicago Board of Trade January soyabean futures, about flat from late on Tuesday. December soyabean shipments from the Gulf were offered at 40 cents over futures.
CIF corn barges for first-half December delivery were bid at 28 cents over Chicago Board of Trade December futures, steady to up 1 cent. December corn Gulf export shipments were offered at about 48 cents over CBOT March, down 2 cents. Bids for SRW wheat barges shipped in December were steady at about 50 cents per bushel over CBOT March futures and export offerings this month up about 5 cents to 65 cents over futures.
December CIF HRW bids were held at a record-high of 240 cents over the K.C. March contract for 12 percent protein grain. Nominal export offers were seen at about 245 cents over futures, flat to down 5 cents.
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