CIF/FOB Gulf Grain-Soy barge bids slip, traders assess potential Chinese demand

CHICAGO, July 23 (Reuters) - Basis bids for soybeans delivered by barge to U.S. Gulf Coast terminals eased on Wednesday, traders said as they sought to assess potential demand from China.

• China's agriculture ministry said the government would continue to promote the reduction and substitution of soybean meal, often used as livestock feed, as it seeks to rein in domestic hog production.

• China is the world's biggest soy importer, and an analyst said its comment does not signal stronger world export totals.

• China's Vice Premier He Lifeng will visit Sweden from July 27-30 for a new round of economic and trade talks with U.S. officials, the Chinese commerce ministry said.

• On Thursday, the U.S. Department of Agriculture is slated to issue weekly grain and soybean export sales data.

• Analysts expect weekly 2025-26 export sales of 250,000 to 500,000 metric tons for soybeans and 400,000 to 800,000 metric tons for corn, according to a Reuters poll.

• CIF Gulf soybean barges loaded in July were bid at about 101 cents over Chicago Board of Trade August SQ25 futures, down 1 cent from Tuesday. August soybean barges were bid at 102 cents over CBOT futures, down 2 cents.

• FOB export premiums for soybeans shipped from the Gulf in August were steady at about 112 cents over August SQ25 futures.

• CIF Gulf corn barges loaded in July were bid at 93 cents over CBOT September CU25 futures, which was flat from Tuesday. August corn barges were bid at 92 cents over futures, which was also unchanged.

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

• South Korean feed groups struck deals to buy corn in international tenders.

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