CIF/FOB Gulf Grain-Soybean, corn barge bids ease

CHICAGO, Aug 26 (Reuters) - Basis bids for soybeans and corn shipped by barge to U.S. Gulf Coast terminals weakened on Tuesday in quiet trade as demand from exporters cooled a bit, traders said.

• Market players continue to monitor U.S. trade relations with top global soy buyer China, which has been shunning U.S. agricultural products that are now subject to a 23% tariff.

• Senior Chinese trade negotiator Li Chenggang is expected to travel to Washington this week to meet U.S. officials, a United States government spokesperson said, with the two superpowers looking to chart a path beyond their current tariff truce.

• A U.S.-based source familiar with the negotiations said there was no meeting planned between Li and U.S. Trade Representative Jamieson Greer and he was not coming at the request of the U.S. side.

• CIF Gulf soybean barges loaded in August were bid at 50 cents over Chicago Board of Trade November SX25 futures, down 1 cent from Monday.

• FOB export premiums for soybeans shipped from the Gulf in October held steady at about 84 cents over November SX25 futures.

• For corn, CIF Gulf corn barges loaded in August were bid at about 82 cents over CBOT September CU25 futures, down 3 cents from Monday.

• September-loaded corn barges traded at 91 cents over CBOT September CU25 futures and were re-bid at 89 cents over futures.

• FOB export premiums for corn shipped from the Gulf in October were around 110 cents over December futures, unchanged from Monday.

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