CIF/FOB Gulf Grain-Soybean barge basis higher, corn mostly steady

Basis bids for soybeans shipped by barge to U.S. Gulf Coast terminals ticked higher on Monday, while corn basis bids were generally steady, traders said.

• Condition ratings for U.S. corn and soybean crops eased in a weekly U.S. Department of Agriculture report on Monday, though farmers were still expected to harvest large crops.

• On Tuesday, the USDA is expected to increase its estimates for corn and soybean crop yields in a monthly report, following the favorable growing conditions, analysts said.

• U.S. President Donald Trump has signed an executive order extending the China tariff deadline for another 90 days, CNBC reported on Monday, citing a White House official.

• Barge company sources said they were starting to see some draft restrictions emerge for river traffic, as river levels are expected to fall lower on parts of the Lower Mississippi River, such as around the Donaldsonville, Louisiana, area.

• CIF Gulf soybean barges loaded in August were bid at 60 cents over Chicago Board of Trade November soybean futures SX25, up 2 cents from Friday.

• FOB export premiums for soybeans shipped from the Gulf in the first half of September were steady at about 103 cents over November futures. Loadings for the second half of September were steady at 100 cents over November futures.

• For corn, CIF Gulf barges loaded in August were bid at 81 cents over Chicago Board of Trade September CU25 futures, steady from Friday.

• FOB export premiums for corn shipped from the Gulf in September held at about 126 cents over September 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