Soybean spot rates rise on demand for U.S. exports

Spot rates for soybeans and corn shipped by barge to the U.S. Gulf Coast and loaded for export rose Monday on robust demand, traders said. * Farm sales overall have slowed as the harvest approaches, leaving tight supplies in the river market, one trader said. * Empty barge freight rates, especially for nearby loadings, also remain high as some markets experience a shortage of barges. * Low corn prices are boosting export demand for U.S. corn. * The U.S. Department of Agriculture said exporters sold 169,926 metric tons of U.S. corn to Mexico, 130,000 metric tons of U.S. corn to South Korea and 198,192 metric tons of U.S. corn to undisclosed destinations. All shipments were scheduled for the 2024-25 marketing year. * Exporters struck deals to sell 116,000 metric tons of U.S. soybeans to undisclosed destinations, the U.S. Department of Agriculture said, adding that another 264,000 metric tons of U.S. soybeans were also sold to undisclosed buyers. Both were for the 2024-25 marketing ...