US CIF corn and soyabean basis values were mostly steady on Thursday, supported by slow farmer selling and routine export demand, traders said. Barge freight rates were mostly steady after rising slightly at St. Louis and on the Illinois River.
Traders said freight bids for this week were unchanged at 375 percent of tariff on the lower Ohio River, while offers held at 400 percent. The harvest in parts of the eastern Corn Belt continued to be delayed by wet conditions. "It's just muddy," a southern Indiana river dealer said, adding that there were some areas with up to 35 percent of corn and soya yet to he harvested.
Traders said corn basis values were supported by slow farmer selling and routine export demand. In its weekly report, USDA said corn exports sales totalled 1.4 million tonnes last week, down 28 percent from the previous week. Japan was top buyer with 344,700 tonnes.
Israel bought 80,000 tonnes of US corn at its tender, along with sorghum and soyameal. Traders said soyabean basis values was mostly steady, supported by solid weekly export sales.
In its weekly report, USDA said soyabean export sales were 755,700 tonnes last week, up 7 percent from the previous week. China was top buyer with 298,600 tonnes while Egypt booked 98,500 tonnes. Separately, USDA on Thursday reported the sale of 115,000 tonnes of US soyabeans to unknown buyers for delivery in the current marketing year that began September 1.
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