CIF/FOB Gulf Grain-Soy barge bids rise, weekly US export sales top estimates

CHICAGO, Aug 21 (Reuters) - Basis bids for soybeans shipped by barge to U.S. Gulf Coast terminals rose on Thursday after a recent slide and as futures prices jumped, traders said.

• The U.S. Department of Agriculture reported net new-crop U.S. soybean export sales were 1.14 million metric tons in the week ended August 14, above traders' estimates for 400,000 to 1,000,000 tons.

• China, the world's biggest soybean importer, remained absent from the U.S. market amid trade tensions with Washington.

• Shippers were cautious about the U.S.-China dispute while their capacity was filling up with demand from importers that are less traditional buyers, a trader said.

• Soy futures advanced at the Chicago Board of Trade on technical buying. Futures also got a boost from expectations that President Donald Trump's administration would rule on a growing backlog of requests from small oil refiners seeking relief from U.S. biofuel laws.

• CIF Gulf soybean barges loaded in August were bid at 45 cents over Chicago Board of Trade November SX25 futures, up 8 cents. September loadings were bid at 50 cents over November futures, also up 8 cents.

• FOB export premiums for soybeans shipped from the Gulf in the first half of September were about 90 cents over November SX25 futures.

• For corn, the USDA reported net new-crop U.S. export sales at 2.86 million metric tons in the week ended August 14, above trade estimates for 900,000 to 2,000,000 tons.

• CIF Gulf corn barges loaded in August were bid at about 80 cents over CBOT September CU25 futures. September corn barges were bid at 95 cents over futures.

• FOB export premiums for corn shipped from the Gulf in September were around 132 cents over September futures. Premiums were firm for shipments later in the year.

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