Soybean barge basis steady to firm, corn mixed

Basis bids for soybeans shipped by barge to U.S. Gulf export terminals were steady to firmer on Friday, with traders reporting some interest from Chinese buyers for near term shipments.

* Corn bids were mixed, as futures declined on concern over weak U.S. export demand.

* Flat to lower barge freight rates on Midwest rivers capped basis values, traders said. Freight costs have slipped this week as minimal farmer sales kept a lid on demand for empty barges.

* CIF soybean barges loaded in November were bid 135 cents over Chicago Board of Trade (CBOT) January futures (SF3), unchanged from Thursday. December barges were bid 130 cents over futures, up 5 cents from the prior day.

* Traders said China has been buying small amounts of U.S. soybeans for December and January shipment. The peak U.S. soy export season is winding down as new-crop Brazilian supplies are due to begin flooding the market in early 2023.

* Export premiums for soybeans shipped in the last half of December were down 10 cents at around 165 cents over futures.

* For corn, CIF barges loaded in November were bid 112 cents over CBOT March futures (CH3), down 3 cents, while December corn barges were bid 115 cents over futures, up 3 cents.

* Corn export premiums for late December loadings were unchanged at around 143 cents over March futures.