CIF/FOB Gulf Grain-Spot soybean barge bids firm on river shipping delays

CHICAGO, Sept 15 (Reuters) - Basis bids for soybeans shipped by barge to U.S. Gulf Coast export terminals were mostly steady to higher on Monday as low water levels on the Mississippi River slowed deliveries and freight rates firmed, traders said.

• Basis bids for CIF corn barges were mostly flat to lower as farmers are beginning to harvest what is forecast to be a record-large crop.

• Low water on the Mississippi River has prompted barge lines to restrict vessel drafts, reducing the amount of grain and soy that can transit from the Midwest to Gulf Coast export terminals.

• The river gauge at Memphis was at -4.8 feet on Monday afternoon and was forecast to drop to -8 feet by the end of the month, which would be about 4 feet from a record low set two years ago, according to NOAA data.

• The U.S. Department of Agriculture on Monday said 804,352 metric tons of U.S. soybeans were inspected for export last week, above trade estimates. However, traders warned that fourth-quarter exports would be below normal levels as top importer China remains out of the market for U.S. soybeans.

• CIF Gulf soybean barges loaded in September were bid about 6 cents higher at 60 cents over Chicago Board of Trade November SX25 futures. Deferred bids were mostly unchanged.

• FOB export premiums for soybeans shipped from the Gulf in October were a penny lower at about 75 cents over November futures.

• CIF September corn barges were bid 2 cents lower at 80 cents over CBOT December CZ25 corn futures.

• FOB export premiums for corn shipped in October were 3 cents higher at around 100 cents over December futures.

• The USDA confirmed private sales of 148,971 metric tons of U.S. corn to undisclosed buyers.