Barge freight bids were weaker on the lower Mississippi River, lower Ohio River and Illinois River amid a slowdown in grain movement as the harvest neared completion, traders said.
Traders said soyabean basis offers were mostly steady, but export demand remained sluggish. The traders said there was talk that the Chinese government would buy up to 1 million tonnes of soyabeans from its farmers in a bid to shore up sagging domestic prices.
"There is talk of China buying up its domestic stocks," trader said, adding that it was helping to rally CBOT futures. Technical fund buying took futures sharply higher.
China, the world's top soyabean importer, has been battling with the spread of the bird flu disease. It's imports of US soyabeans are sharply lagging the pace of a year ago.
Traders said corn basis offers were mostly steady, supported by demand from Asia and Latin America.
A trader said Israel was in the market for a handymax vessel of corn, but added that it was likely to buy from Argentina.
Hard red winter wheat basis values were steady, but track market values weakened amid declines in rail freight.
"The freight has come off," a trader said.
Soft red winter wheat basis values in the CIF market were firm, supported by a lack of supplies and slow farmer selling.
"Nobody is selling anything because there's a good 'carry' in the market," a trader said, referring to higher prices for deferred sales.