Some river terminals boosted offerings of soybeans available this month, weighing on bids. Traders rolled their basis to Chicago Board of Trade January soybean futures from the November contract
. With January futures trading at a roughly 10-cent premium to November, traders dropped their basis to account for the spread between the contracts.
Rains were slowing the harvest of late soybeans and corn in parts of Illinois Indiana and Ohio, and wet conditions should slow fieldwork in the eastern Midwest for the next two weeks, the Commodity Weather Group said in a research note.
CIF corn basis bids were flat, anchored by supplies in the export pipeline.
CIF hard red winter wheat basis bids firmed on moderate demand for high-protein grain.
Spot barge freight rates on Midwest rivers were steady to down 20 percentage points of tariff on an increasing number of offers for barges for November and forward slots, traders said.
CIF Gulf soybean barges loaded in November traded at 12 cents a bushel over Chicago Board of Trade January futures and were rebid at 10 cents over. Late November FOB offers were 35 cents over January futures.
Early November corn barges were bid at 33 cents above the CBOT December futures contract
. FOB corn offers for late November loadings were 51 cents over futures.
October soft red winter wheat barges were bid 58 cents over CBOT December futures. Spot export premiums were 80 cents over futures.
October CIF hard red winter wheat bids were 204 cents over the K.C. December contract for 12 percent protein grain. Export premiums for spot shipments were about 205 cents over futures.