CIF/FOB Gulf Grain-Soy basis bids rise, traders eye US harvest and exports
CHICAGO, Oct 8 (Reuters) - Spot basis bids for soybeans shipped by barge to U.S. Gulf Coast terminals rose on Wednesday, traders said.
October and November soy barges traded at 80 cents over Chicago Board of Trade November SX25 futures, traders said.
CIF basis bids for October soybean barges rose 5 cents to 75 cents over CBOT November SX25 futures. November barges were bid at 73 cents over futures, down 2 cents.
The market has rebounded from recent weakness during harvesting, a trader said.
The United States is thought to be making export sales to countries other than top buyer China, traders said. Beijing has avoided U.S. supplies during its trade war with Washington.
However, the U.S. Department of Agriculture has suspended reporting of U.S. export sales data due to a lapse in federal funding.
Analysts estimated that weekly U.S. soybean export sales at 600,000 to 1.6 million metric tons, according to a Reuters poll.
FOB export premiums for October-loaded soybeans were steady at about 78 cents over futures. Premiums rose for loadings in December and January amid some expectations for China to resume buying, a trader said.
For corn, CIF basis bids for October barges were flat at about 80 cents over CBOT December CZ25 futures. November barge loadings were bid at 80 cents over December futures, down 1 cent.
FOB export premiums for October corn shipments were steady at about 97 cents over futures.
Analysts estimated weekly U.S. corn export sales at 1.2 million to 2 million metric tons.
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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