CIF/FOB Gulf Grain-Soy bids pressured by lack of Chinese demand
CHICAGO, Aug 18 (Reuters) - Basis bids for soybeans shipped by barge to U.S. Gulf Coast terminals remained under pressure on Monday from a lack of Chinese demand during the trade dispute between Washington and Beijing, traders said.
Traders worried it may take months for Washington and Beijing to agree to a trade deal that could open the door for U.S. soy sales to China, the world's biggest importer of the oilseed.
CIF Gulf soybean barges loaded in August were bid at 39 cents over Chicago Board of Trade November SX25 futures, which was unchanged after bids fell on Friday. September loadings were bid at 41 cents over November futures, down 4 cents.
FOB export premiums for soybeans shipped from the Gulf in the first half of September were flat at about 102 cents over November SX25 futures.
For corn, CIF Gulf barges loaded in August were bid at about 83 cents over CBOT September CU25 futures, down a penny. September corn barges were bid at 95 cents over futures, which was flat.
FOB export premiums for corn shipped from the Gulf in September were steady at about 128 cents over September futures.
U.S. corn prices remain lower than Brazil on the global market, attracting global demand, a broker said.
Exporters struck deals to sell 124,000 metric tons of U.S. corn to unknown buyers for 2025/26 delivery, the U.S. Department of Agriculture said via its daily reporting system.
For wheat, Egypt's state grains buyer, Future of Egypt, said it agreed to buy at least 200,000 metric tons of French wheat in recent private deals with exporters. It also bought several 30,000-ton cargoes of wheat from Ukraine and Romania.
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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