CIF/FOB Gulf Grain-Corn, soybean barge basis steady-to-firm as futures retreat

CHICAGO, Sept 30 (Reuters) - Basis bids corn shipped by barge to U.S. Gulf Coast terminals were steady to higher on Tuesday as exporter demand was firm and as lower futures prices curbed farmer sales into the river market, traders said.

• Soybean barge basis bids were steady to slightly higher as futures slid to seven-week lows, limiting farmer sales to barge-loading river elevators.

• Spot barge freight rates eased from recent highs this week as available supplies of empty barges increased. Rates, however, remain underpinned by low water on the Mississippi River because restricted barge drafts mean shippers need more of the vessels to move grain. BG/US

• The Mississippi River gauge at Memphis was near -2.75 feet on Monday afternoon, up about 5 feet from last week but at a critical level that requires light-loading of barges. The river is expected to recede to -7.5 feet by Friday, according to a government forecast.

• CIF basis bids for September corn barges rose 3 cents to 79 cents over Chicago Board of Trade December CZ25 futures, while October barge bids held steady at 81 cents over futures.

• FOB export premiums for October corn shipments were down 2 cents at 96 cents over futures.

• CIF Gulf soybean barges loaded in September and October were up 1 cent at 60 cents over CBOT November SX25 futures.

• FOB export premiums for October-loaded soybeans were a penny higher at 74 cents over futures.

For displays of CIF basis, click on the codes in brackets:

U.S. CIF Gulf soybeans GRYM

U.S. CIF Gulf corn GRYN

U.S. CIF Gulf SRW wheat GRYO

U.S. CIF Gulf HRW wheat GRYP
For displays of FOB basis, please click on the following codes in brackets:

U.S. FOB Gulf corn GRZC

U.S. FOB Gulf soybeans GRZD

U.S. FOB Gulf SRW wheat GRZE

U.S. FOB Gulf HRW wheat GRZF

LINKS:

Corn prices page: cpurl://apps.cp./cms/?pageid=corn-cash-market

Wheat prices page: cpurl://apps.cp./cms/?pageid=wheat-cash-market

U.S. barge freight BG/US

U.S. export sales estimates USDA/EST

U.S. grain export summary GRA/U

Brazil soybean export prices SYBS

Brazil corn export prices SYBX

Argentina grain prices GRA/ARG

Russia grain prices GRA/RU