US Gulf CIF soyabean and corn barge basis values held steady on Monday after freight rates rose last week amid low-water problems, traders said. Hard wheat basis up 5-10 cents a bushel after futures prices fell about 35 cents on Friday. Weaker dollar supports US grain exports. Drafts on lower Ohio River dropped to nine feet from 10 feet, traders said.
Jordan seeking 100,000 tonnes of wheat for October shipment. Usually buys Russian, Ukraine, Kazakhstan or Syrian wheat. Deepening drought in Australia to reduce wheat yields. Dryness in parts of northern Argentina's farming belt. US wheat exports supported by little milling-quality wheat from Russia and Ukraine. New-crop mainly feed wheat.
Mexico buys 155,465 tonnes of US new-crop corn. US Midwest corn, soya crop tour kicks off Monday. China's soyabean purchases expected to be minimal even after the Olympics due to overbuying and poor crush margins, traders said.
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