CIF/FOB Gulf Grain-Corn barge bids flat-up, farmers slow to sell crops

CHICAGO, July 21 (Reuters) - Basis bids for corn delivered by barge to U.S. Gulf Coast terminals were flat to slightly higher on Monday as farmers were slow to sell their crops, traders said.

• Low prices have discouraged farmers from selling corn and soybeans.

• The U.S. Department of Agriculture lowered its good-to-excellent rating for the nation's soy crop in a weekly report. Analysts on average had expected a slight increase.

• A recent increase in freight costs on Midwest rivers has supported nearby CIF and FOB values, a broker said.

• For corn, CIF Gulf barges loaded in July were bid at 93 cents over Chicago Board of Trade September CU25 futures, up 1 cent from Friday. August corn barges were bid at 91 cents over futures, which was unchanged.

• FOB export premiums for corn shipped from the Gulf in August were flat at around 105 cents over September futures.

• CIF Gulf soybean barges loaded in July were bid at about 100 cents over CBOT August SQ25 futures. On Friday, they traded at 103 cents over futures and were re-bid at 100 cents over futures.

• August soybean barges were also bid at 100 cents over CBOT futures on Monday. They traded at 103 cents over futures on Friday and were re-bid at 102 cents over futures.

• FOB export premiums for soybeans shipped from the Gulf in August remained at around 112 cents over August SQ25 futures.

• Traders monitored prospects for a trade deal with China, the world's biggest soybean importer.

• Aides to Donald Trump and Chinese leader Xi Jinping have discussed a potential meeting between the leaders during a trip by the U.S. president to Asia later this year, according to two people familiar with the plans.

• In other trade news, Bangladesh signed a deal on Sunday to import 700,000 tonnes of U.S. wheat annually the next five years, officials said.