Shippers will either load less in their vessels or risk hitting the bottom of the river. Bids and offers for barges were not available from December 8 on the Mississippi River at St. Louis or on the Illinois River, barge sources said. Soyabean bids fell 9 cents per bushel on the Illinois River and corn 3 cents.
Slow farmer sales of each commodity following a dip in futures on Friday supported the basis elsewhere. Corn bids rose 5 cents per bushel for the first rise in about a month at a processor in Decatur, Illinois, while soya bids gained 3 cents per bushel in Toledo, Ohio.
Some farmers boosted corn sales earlier this week after cash corn prices topped the price target of $8 per bushel, but the sales slowed after prices dipped. Farmer offerings of soyabeans were light for the week, the dealers said. Corn futures declined for a fourth straight month, losing ground in each frame since hitting a record high in August of $8.43-3/4 per bushel in a profit-taking setback. Soyabean futures fell for a third straight month, the first such streak since mid-2011.