CIF/FOB Gulf Grain-Soy barge basis bids higher; corn basis steady-lower

CHICAGO, Oct 2 (Reuters) - Basis bids for soybeans shipped by barge to U.S. Gulf Coast terminals inched higher on Thursday, as Chicago soybean futures continued their rebound, traders said.

• The futures market has been assessing the potential for a resumption in Chinese demand following comments by U.S. President Donald Trump, traders said.

• CIF corn barge basis bids were steady to slightly lower, as empty barge freight rates - though elevated - have eased recently.

• Basis bids for corn and soybeans rose at grain elevators and processors in the U.S. Midwest on Thursday, dealers said, as they sought grain for delivery in the first half of the month.

• Significantly low water levels on interior rivers, including the lower Mississippi River, have created some delays in barge traffic, barge brokers said. Such delays are causing ill-timed transportation snarls for U.S. exporters, as farmers are harvesting a record-large corn crop and massive soybean crop, according to government forecasts. BG/US

• One area on the Mississippi that has been particularly hard-hit this week has been St. Louis, barge sources said. Barge firms have reported that their fleets have seen delays that have lasted up to 19 hours.

• Empty barge freight rates eased at St. Louis on Thursday, though prices have remained elevated for much of this week, market sources said.

• U.S. weekly export sales data, which is normally released every Thursday, was not published. The data report is suspended due to a federal government funding lapse.

• CIF basis bids for October corn barges were steady at 78 cents over Chicago Board of Trade December CZ25 futures.

• FOB export premiums for October corn shipments were steady at 95 cents over futures.

• CIF Gulf soybean barges loaded in September turned up 2 cents at 62 cents over CBOT November SX25 futures, while October barges were bid 3 cents higher at 62 cents over futures.

• CIF Gulf soybean barges loaded in October traded at 62 cents over November futures.

• FOB export premiums for October-loaded soybeans were steady at 70 cents over 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