CIF/FOB Gulf Grain-Soybean barge bids weaken, corn bids flat-down
CHICAGO, July 24 (Reuters) - Basis bids for soybeans delivered by barge to U.S. Gulf Coast terminals eased on Thursday, traders said.
CIF Gulf soybean barges loaded in July were bid at about 98 cents over Chicago Board of Trade August SQ25 futures, down 3 cents from Wednesday. August soybean barges were bid at 96 cents over CBOT futures, down 6 cents.
FOB export premiums for soybeans shipped from the Gulf in August were flat at about 112 cents over August SQ25 futures.
The U.S. Department of Agriculture reported weekly U.S. soybean export sales of 160,900 metric tons for 2024-25 and of 238,800 tons for 2025-26. Analysts had expected 100,000-350,000 tons for 2024-25 and 250,000-500,000 tons for 2025-26, according to a Reuters poll.
For corn, CIF Gulf corn barges loaded in July were bid at 92 cents over CBOT September CU25 futures, which were down 1 cent. August corn barges were bid at 92 cents over futures, which were unchanged.
FOB export premiums for corn shipped from the Gulf in August were unchanged at around 105 cents over September futures.
The USDA reported weekly U.S. corn export sales of 643,100 tons for 2024-25 and of 733,900 tons for 2025-26, within analysts' estimates.
The USDA, in a daily reporting system, incorrectly reported a sale of U.S. corn to China when the buyer was actually South Korea.
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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