Export premiums for corn and soyabeans shipped from the US Gulf Coast held mostly steady on Monday, underpinned by stable CIF barge basis values and moderate export demand, traders said. US wheat export premiums held mostly steady amid light demand.
Persistent barge shipping disruptions caused by high water on the lower Mississippi River supported nearby CIF basis bids and kept a floor under exporters' grain acquisition costs. Some exporters were reluctant to offer near term shipments at aggressively low prices amid uncertainty over supplies. River navigation resumed in Natchez and Vicksburg, Mississippi, on Monday after numerous barge accidents and an oil spill last week, the Coast Guard said. The river was closed near Greenville, Mississippi, on Monday after another barge tow accident. FOB Gulf soyabeans loaded in late February were lightly offered at about 93 cents a bushel over CBOT March futures, which closed 4 cents higher at $8.80-1/2 a bushel. Corn offers for late February shipment were around 70 cents over CBOT March futures, which ended 1/2 cent lower at $3.69-3/4 a bushel.