CIF/FOB Gulf Grain-Soy, corn barge bids pressured by Chinese demand uncertainty, hefty fall harvest potential

CHICAGO, July 30 (Reuters) - Basis bids for corn and soybeans shipped by barge to U.S. Gulf Coast export terminals were mixed on Wednesday, with deferred month loadings of soybeans sharply lower amid expectations for large U.S. harvests this autumn, traders said.

• CIF soybean premiums were pressured by ongoing concerns about China, the world's largest soybean buyer, reducing its soymeal use in its hog herd, sourcing more commodities from non-US suppliers, and the potential of a drawn-out time frame regarding the U.S. implementing tariffs, traders said.

• Meanwhile, the spot CIF market, particularly down in the southern parts of the U.S., has seen prices turn lower as soybean and corn farmers begin to prepare for harvest, traders said.

• Availability of empty barges on parts of the Ohio River, and along the Mississippi River between the Memphis and Cairo terminals, has tightened as barge companies move their fleets to prep for harvest, one broker said. That has given freight rates in those areas a boost, the broker said. BG/US

• Chicago Board of Trade soybean futures fell for the fourth consecutive session on Wednesday, dragged down by favorable weather across the U.S. Midwest and sluggish export demand, analysts said. Meanwhile, short covering and technical buying helped to underpin corn futures prices during the session, traders said

• U.S. President Donald Trump signed an executive order on Wednesday implementing an additional 40% tariff on Brazil, bringing the total tariff amount to 50%, the White House said on Wednesday, citing Brazil's recent policies that the Trump administration disagrees with.

• CIF Gulf corn barges loaded in July were bid 1 cent higher at 79 cents over Chicago Board of Trade September CU25 futures. August corn barges were bid at 81 cents over futures, steady from Tuesday. Bids for later-month loads were lower to mixed.

• FOB export premiums for corn shipped from the Gulf in August were offered at 102 cents over September futures, down 3 cents.

• CIF Gulf soybean barges loaded in July traded at 86 cents over CBOT August SQ25 futures. October soybean barges also traded at 60 cents over CBOT November SX25 futures.

• CIF Gulf soybean barges loaded in July had no bids and were offered at 91 cents over August futures. August loadings firmed on Wednesday, bid at 87 cents over August futures, but deferred month loadings were down sharply.

• FOB export premiums for soybeans shipped from the Gulf in August were down 1 cent at about 104 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