Corn and soybeans are in demand at U.S. Gulf export points, and shippers there raised basis bids slightly to get loads there, but the resulting demand on barges to move those crops raised freight rates led to lower basis bids to farmers.
Barge rates late last week went to 238% of tariff on the mid-Mississippi, compared with 235% a week earlier, and rose to 160% at St. Louis, Mo., from 153% the prior week. However, those rates are down considerably from year-ago levels.
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