CIF/FOB Gulf Grain-Soybean barge bids weaken; corn bids steady

CHICAGO, May 6 (Reuters) - Basis bids for soybeans delivered by barge to U.S. Gulf Coast terminals softened on Tuesday in response to cooling demand from exporters amid competition from Brazilian supplies, traders said.

• CIF Gulf soybean barges loaded in May were bid at 64 cents over CBOT July SN25 futures, down 2 cents from Monday.

• FOB export premiums for soybeans loaded from the Gulf in June were about 80 cents over July soybean futures, unchanged from Monday.

• For corn, CIF Gulf barges loaded in May were bid at 69 cents over Chicago Board of Trade July corn CN25 futures. June corn barges were bid at 67 cents over July futures, unchanged from Monday.

• FOB export premiums for corn shipped from the Gulf in June held steady at about 78 cents over CBOT July corn futures.

• Two South Korean feed makers bought corn on Tuesday, European traders said. The Major Feedmill Group (MFG) purchased around 267,000 metric tons of the grain in private deals, to be sourced from the United States, South America or South Africa. And the Korea Feed Association (KFA) purchased an estimated 65,000 metric tons of optional-origin corn.

For displays of CIF basis, click on the codes in brackets:
U.S. CIF Gulf soybeans GRYM
U.S. CIF Gulf corn GRYN
U.S. CIF Gulf SRW wheat GRYO
U.S. CIF Gulf HRW wheat GRYP
For displays of FOB basis, please click on the following codes in brackets:
U.S. FOB Gulf corn GRZC
U.S. FOB Gulf soybeans GRZD
U.S. FOB Gulf SRW wheat GRZE
U.S. FOB Gulf HRW wheat GRZF

LINKS Corn prices page:   cpurl://apps.cp./cms/?pageid=corn-cash-market
Wheat prices page:  cpurl://apps.cp./cms/?pageid=wheat-cash-market
U.S. barge freight                  BG/US
U.S. export sales estimates         USDA/EST
U.S. grain export summary           GRA/U
Brazil soybean export prices        SYBS
Brazil corn export prices           SYBX
Argentina grain prices              GRA/ARG
Russia grain prices                 GRA/RU