Soy barge bids firm, corn barge bids soften

Basis bids for soybeans shipped by barge to U.S. Gulf export terminals were steady to firmer on Monday, reflecting light exporter demand in thin trade, brokers said, while corn barge bids declined.

* Costs for barge freight on Midwest rivers were steady to higher even as river levels rose over the weekend in some areas, including the Mississippi River at Memphis, Tennessee, allowing for heavier loads on barges, one trader said.

* Barges for this week on the Memphis-to-Cairo stretch of the Mississippi were offered on Monday at 750% of tariff, up from 725% last week.

* CIF soybean barges loaded in December traded at 135 cents over Chicago Board of Trade (CBOT) January futures (SF3) and were re-bid at the same level, up 5 cents from Friday's last bid.

* Export premiums for soybeans shipped in the last half of December held at 155 cents over futures.

* The U.S. Department of Agriculture (USDA) confirmed private sales of 130,000 tonnes of U.S. soybeans to China for delivery in the 2022/23 marketing year that began Sept. 1.

* For corn, CIF barges loaded in November were bid 106 cents over CBOT March futures (CH3), down 6 cents from Friday, and December corn barges were also bid 106 cents over futures, down 9 cents from Friday.

* Corn export premiums for late December loadings were steady at around 140 cents over March futures.

* The USDA reported export inspections of U.S. soybeans in the latest week at 1,721,828 tonnes, in line with trade expectations for 1,100,000 to 2,400,000 tonnes.

* The USDA reported corn export inspections at 524,313 tonnes, in line with trade expectations for 300,000 to 750,000 tonnes, and wheat inspections at 334,653 tonnes, just above a range of expectations for 175,000 to 300,000 tonnes.