Corn and soyabean spot basis bids were steady to higher at US Midwest river terminals on Thursday, supported by slow farmer sales and good export demand for the crops, and as shipping costs stabilized on the waterways, grain merchants said.
Barge freight steadied amid limited demand for empty vessels. With farmers delaying sales, there was little interest in hiring barges to haul supplies to the Gulf. Shipping costs could grind lower in the coming days absent any new farmer sales, a barge trader said. Soya bids gained as much as 5 cents along the Mississippi River in Davenport, Iowa, while soya and corn bids each gained 3 cents along the Illinois River. The corn basis also had a firm tone for rail loadings into Texas cattle markets.
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