Global grain and oilseed markets

On Tuesday, basis prices for soybeans shipped by barge to export terminals in the U.S. Gulf Coast declined, while basis prices for barge-transported corn strengthened as cold weather and icing on inland rivers continued to create shipping problems, traders said. Demand for February soybean barge futures CIF decreased by 9 cents to 110 cents compared to March soybean futures on the Chicago Mercantile Exchange. Offers for FOB Gulf soybeans for vessels loaded in February remained stable at around 125 cents compared to March futures, while offers for March shipments remained stable at around 130 cents compared to futures. Soybean futures on the Chicago Mercantile Exchange rose on Tuesday after the U.S. Department of the Treasury published long-awaited updated recommendations on biofuel tax credits. Market participants continue to study the updated Treasury Department guidelines regarding the 45Z tax credit for the production of environmentally friendly fuel. On Tuesday, the U.S. ...