Barge Basis for Corn and Soybeans Rise Amid Delays and Slow Grain Sales

Barge bids for soybeans and corn delivered to the U.S. Gulf Coast rose modestly on Wednesday due to slow grain sales by farmers and barge delays on the mid-Mississippi River. High winds and repairs on Lock 27 slowed barge movement. CIF Gulf corn barges were bid at 68 cents over CBOT May futures, while FOB export premiums for corn in April were around 78 cents over CBOT May futures. CIF Gulf soybean barges were bid at 80 cents over CBOT May futures, while FOB offers for soybeans in April were around 90 cents over May futures.