Soybean, corn barge basis bids turn higher on firm freight, weather woes
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Basis bids for corn and soybeans shipped by barge to U.S. Gulf Coast export terminals rose on Tuesday due to higher freight rates and weather-related navigation issues on Midwest rivers. Spot barge freight rates increased, particularly on the Illinois River, where snow and ice have slowed movement. The USDA confirmed private sales of U.S. sorghum and corn for future shipment. U.S. soybean futures also increased as a weaker dollar made U.S. crops more attractive to exporters. CIF and FOB basis bids for both corn and soybeans saw notable increases.
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