CIF/FOB Gulf Grain-Corn, soybean barge bids firm amid US-China trade talks

CHICAGO, June 10 (Reuters) - Basis bids for soybeans and corn delivered by barge to U.S. Gulf Coast terminals ticked higher on Tuesday, as trade talks between the U.S. and China stretched into a second day, traders said.

• U.S. Commerce Secretary Howard Lutnick said on Tuesday that trade talks with China were going well and could spill into a third day, as the two superpowers pushed for a breakthrough on dueling export controls that had threatened to unravel a delicate tariff truce.

• The U.S. Department of Agriculture's weekly crop progress report said 71% of the country's corn crop was in good-to-excellent condition as of Sunday, up from 69% the week prior and slightly above the average estimate from a Reuters survey of analysts.

• Brazil soy exports are forecast to reach 14.08 million metric tons in June, Anec said Tuesday.

• The U.S. will significantly reduce the amount of biodiesel and renewable diesel it imports this year because of a federal tax credit change, the Energy Information Administration forecasted on Tuesday.

• Ukraine's farm ministry on Tuesday increased minimum export prices for wheat and corn, the country's key agricultural commodities, data from the ministry showed.

• CIF soybean barges loaded in June were bid at 70 cents over Chicago Board of Trade July SN25 futures, up 1 cent.

• FOB export premiums for soybeans loaded from the Gulf in June were offered at about 80 cents over July futures, up 2 cents from Monday.

• For corn, CIF barges loaded in June were bid at 67 cents over CBOT July corn futures CN25, up 1 cent.

• FOB export premiums for corn shipped from the Gulf in June were steady at about 82 cents over CBOT July corn futures.

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