CIF Gulf soya lower, corn steady

Basis values for soyabeans shipped by barge to the US Gulf were steady to lower on Monday amid continued poor demand, traders said. Corn and wheat basis values were mostly steady. Soyabean basis values were weak as demand shifts to South America, and on ample supplies after an uptick in farmer selling last week.
Barge freight was mostly steady; trading at 210 percent of tariff on the lower Ohio River, traders said. Traders said water levels on the Ohio River were rising amid rains, but not affecting grain loading. Markets were keeping an eye on farmers in Argentina who halted their week-long boycott of grain and livestock sales over higher soya taxes on Friday.