WEEKLY GRAIN MOVEMENT: Louisiana flooding hits corn, soybean bids

Flooding is receding, but rain remains in the short-term forecast.

Rain this past week in Louisiana slowed vessel loading at Gulf export points, casuing a drop in basis bids for corn and soybeans, U.S. shippers said.

The corn basis recovered a little on Tuesday but remained down from a week ago. Corn bids slipped to 62 cents over the September futures on Monday for September shipment. Tight supplies of available corn prompted a rebound on Tuesday to 67 cents over, while last week they were about 72 cents over.

“There are not a lot of barges

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