CIF/FOB Gulf Grain-Soybean, corn barge basis steady to higher

CHICAGO, July 2 (Reuters) - Basis bids for corn and soybeans shipped by barge to the U.S. Gulf Coast for export were steady to higher on Wednesday, after farmer selling has slowed amid a slump in futures prices, traders said.

• Deferred bids firmed, particularly for soybean loadings later this summer.

• The U.S. will place a lower-than-promised 20% tariff on many Vietnamese exports, President Donald Trump said on Wednesday, cooling tensions with its 10th-biggest trading partner days before Trump could raise levies on most imports.

• On Wednesday, Chicago Board of Trade soybean futures rallied on technical support, bargain buying and market rumors that U.S. President Donald Trump's upcoming visit to Iowa may include news of progress in trade talks with China, traders said. Trump is scheduled to travel to Des Moines, Iowa, on Thursday for a speech at the state fairgrounds.

• CIF corn barges loaded in July were steady at 71 cents over CBOT July futures CN25. Barges loaded in August were bid at 82 cents over September futures CU25.

• FOB export premiums for corn shipped from the Gulf in July rose 2 cents, offered at 79 cents over July futures; August shipments were up 5 cents, offered at 89 cents over September futures CU25.

• CIF soybean barge bids for July loadings traded at 77 cents over CBOT July futures SN25.

• CIF soybean barge bids for July loadings were bid at 76 cents over July futures, steady from Tuesday. Soybeans loaded in August were bid at 82 cents over August futures SQ25.

• FOB export premiums for soybeans loaded in July were up 2 cents, offered at around 83 cents over August futures SQ25. August premiums were at 85 cents over August futures, up 2 cents from Tuesday.

text_section_type="notes">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