Barge traffic at Lock 52 on the lower Ohio River was halted on Thursday due to low water. The closure is expected to last about three days. A queue of 28 vessels hauling 238 barges was waiting to pass on Friday afternoon, according to Army Corps data. Shipping on the mostly frozen Illinois River is also shuttered, with ice expected to continue building under frigid conditions over through Saturday.
Export sales last week for corn, soyabeans and wheat all fell below trade expectations that were already low due to the holiday week. CIF bids for soyabean barges loaded this month were 46 cents a bushel over Chicago Board of Trade March futures. Barges loaded in the first half of the month traded as high at 49 cents over futures, traders said. FOB Gulf soyabean offers for January soyabean shipments were 56 cents over CBOT March futures.
Bids for corn barges loaded this month were a penny lower at 42 cents above CBOT March futures. The basis hit a 10-month high at midweek. FOB basis offers for January corn shipments were about 68 cents over futures. Bids for soft red winter wheat barges loaded in January were 5 cents lower at 45 cents per bushel over CBOT March futures. January CIF hard red winter wheat bids were up 15 cents at 245 cents over the K.C. March contract for 12 percent protein grain.