Basis bids for corn and soyabeans shipped by barge to the US Gulf Coast weakened on Friday. Dealers said that the slow pace of US exports during the firsts quarter of the 2017/18 marketing year was weighing on the market. The FOB market was flat, with traders reporting light activity and weak demand for loadings at the Gulf.
Soyabean barges loaded in the first half of December were bid at 14 cents over CBOT January soyabean futures, up dow 2 cents from Wednesday. December soyabean shipments from the Gulf were offered at 40 cents over futures. CIF bids for corn barges for first-half December delivery were fell four cents to 23 cents over CBOT March futures. December corn Gulf export shipments were offered at about 48 cents over CBOT March.
Bids for soft red winter wheat barges shipped in December were steady at 50 cents per bushel over CBOT March futures and export offerings this month at 65 cents over futures. December CIF hard red winter wheat bids were unchanged at at 235 cents over the K.C. March contract for 12 percent protein grain. Nominal export offers were about 245 cents over futures.