CIF/FOB Gulf Grain-Soybean bids steady, corn eases as Midwest harvest begins

CHICAGO, Sept 9 (Reuters) - Basis bids for corn shipped by barge to U.S. Gulf Coast terminals eased and soybean bids were generally steady on Tuesday amid a lack of demand from China, the top soy buyer, with crop prices remaining under pressure at the start of the Midwest harvest, traders said.

• FOB buyers continue to hunt for opportunities at the Gulf, traders said, even though not a lot of new business is being conducted.

• Traders said they are becoming more cautious about low levels on interior rivers, as empty barge rates continue to rise. BG/US

• Low river levels could complicate barge movements as farmers are expected to harvest large crops in the coming weeks.

• CIF Gulf soybean barges loaded in September were bid at around 50 cents over Chicago Board of Trade November SX25 futures, steady from Monday.

• FOB export premiums for soybeans shipped from the Gulf in October were steady at about 77 cents over November futures.

• For corn, CIF October barges traded at 83 cents over CBOT December CZ25 corn futures.

• Meanwhile, CIF September corn barges were bid at 74 cents over CBOT December CZ25 corn futures, down 1 cent from Monday.

• FOB export premiums for corn shipped from the Gulf in October were down 3 cents at around 98 cents over December futures.