Basis bids for corn and soyabeans shipped by barge to the US Gulf were steady to firm on the spot market on Wednesday, supported by grain dealers looking to move recently harvested supplies to the export market. Bids for hard red winter wheat headed to the Gulf fell, pressured by light export demand for US supplies. CIF bids for soft red winter wheat were unchanged.
Dealers said that farmers sales were slow, but elevators were still filled with supplies from earlier booked sales of corn and soyabeans. A grain dealer said that corn barges scheduled for loading in March traded at 44 cents over the Chicago Board of Trade March contract and 45 cents over CBOT March.
Soya barges loaded in the first half of December were bid at 20 cents over CBOT January soyabean futures, up 1 cent from Wednesday. December soyabean ocean shipments from the Gulf were offered at 40 cents over futures, unchanged from Tuesday. CIF bids for corn barges for first-half December delivery were steady at 26 cents over CBOT March futures and Gulf export shipments were offered flat at about 48 cents over CBOT March.
Bids for soft red winter wheat barges shipped in December were about steady at 45 cents per bushel over CBOT March futures while export offerings held at 65 cents over futures. December CIF HRW wheat bids declined 5 cents to 225 cents over the K.C. March contract for 12 percent protein grain. Export offers were about 245 cents over futures, unchanged from Tuesday.
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