CIF/FOB Gulf Grain-Corn barge basis steady-weak, soybean bids mostly lower

CHICAGO, July 28 (Reuters) - Basis bids for corn shipped by barge to U.S. Gulf Coast export terminals were mostly steady to weaker on Monday while soybean bids were mostly lower as good U.S. crop conditions indicated ample supplies would soon be available to exporters.

• Corn export demand has been particularly strong as the U.S. Department of Agriculture reported fresh sales on Monday, mostly for new-crop supplies, and as export inspections in the past week exceeded expectations. U.S. corn is competitively priced in the global market, traders said.

• Soybean export demand remained seasonally slow as newly harvested Brazilian supplies are priced cheaper than U.S. beans. Traders are also closely monitoring trade talks between the United States and China, which has yet to book any new-crop U.S. soybean purchases. It is the slowest start to China's new-crop U.S. soy purchasing program in two decades, according to USDA data.

• CIF Gulf corn barges loaded in July were bid at 88 cents over Chicago Board of Trade September CU25 futures, down 2 cents from late Friday. August corn barges were bid at 90 cents over futures, also down 2 cents.

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

• CIF Gulf soybean barges loaded in July were bid at 94 cents over CBOT August SQ25 futures, down from trades at 100 cents over futures on Friday.

• FOB export premiums for soybeans shipped from the Gulf in August were down 2 cents at about 110 cents over August SQ25 futures.