CIF/FOB Gulf Grain-Corn, soybean barge bids steady to higher
CHICAGO, July 22 (Reuters) - Basis bids for corn and soybeans delivered by barge to U.S. Gulf Coast terminals were steady to stronger on Tuesday, traders said.
Slow farmer selling of crops and an uptick in freight costs have supported CIF values, traders said.
In demand news, South Korea's Major Feedmill Group issued an international tender to purchase up to 140,000 metric tons of animal feed corn, European traders said. The corn may be sourced optionally from the United States, South America or South Africa.
U.S. President Donald Trump said he may soon visit China, the world's biggest soybean importer, for a landmark trip to address simmering trade and security tensions between the superpower rivals.
CIF Gulf corn barges loaded in July were bid at 93 cents over Chicago Board of Trade September CU25 futures, which have been steady from Monday. August corn barges were bid at 92 cents over futures, up 1 cent.
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 102 cents over CBOT August SQ25 futures, up 2 cents from Monday. August soybean barges were bid at 104 cents over CBOT futures, up 4 cents.
FOB export premiums for soybeans shipped from the Gulf in August were around 112 cents over August SQ25 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
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