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  • Jan 11th, 2018
  • Comments Off on US FOB Gulf corn, soyabeans bids higher
Basis bids for corn and soyabeans shipped by barge to the US Gulf Coast were higher for prompt shipments on Tuesday, underpinned by slow farmer sales and reduced loadings due to frozen Midwest river traders said.

Trade was relatively minimal, with barge traffic still impeded by frozen sections of the Mississippi and Illinois rivers and some buyers holding off ahead of US Department of Agriculture supply reports due on Friday.

Corn and soya barge bids were higher but remained in the tight range that has defined the cash market for several weeks.

"Market not doing much, although shippers are hoping this warmer weather for the next two days will improve river shipping conditions," a barge broker said.

CIF bids for soyabean barges loaded this month were 42 cents a bushel over Chicago Board of Trade March futures, up about 2 cents from late on Monday. FOB Gulf soyabean offers for January soyabean shipments were about 56 cents over CBOT March futures.

Bids for corn barges loaded this month were up 5 cents from Monday at 44 cents above CBOT March futures and FOB basis offers for January corn shipments were about 68 cents over futures.

Copyright Reuters, 2018


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