CIF/FOB Gulf Grain-Soybean basis eases amid lack of Chinese buying

CHICAGO, Oct 13 (Reuters) - Basis bids slipped for soybeans shipped by barge to U.S. Gulf Coast terminals on Monday amid a lack of interest from top importer China, traders said.

• U.S. President Donald Trump remains on track to meet Chinese leader Xi Jinping in South Korea in late October as the two sides try to de-escalate tensions over tariff threats and export controls, U.S. Treasury Secretary Scott Bessent said.

• A softer tone between the nations helped U.S. soy futures rebound slightly.GRA/

• However, a broker said there was talk that China was continuing to buy soybeans from Brazil and not showing interest in U.S. supplies.

• China has turned to South America for supplies during its trade dispute with Washington.

• Brazil's soybean planting for the 2025/26 season reached 14% of the expected area as of last Thursday, marking the third fastest progress for the date, agribusiness consultancy AgRural said.

• CIF basis bids for October soybean barges eased a penny to 73 cents over CBOT November SX25 futures. November barges were bid at 72 cents over futures, down 3 cents.

• FOB export premiums for October-loaded soybeans remained at about 78 cents over futures.

• CIF corn basis bids for October barges were flat at about 80 cents over December CZ25 futures. November barge loadings were also bid at 80 cents over December futures, which was steady.

• FOB export premiums for October corn shipments were flat at about 97 cents over futures.

• The U.S. Department of Agriculture has halted the release of daily U.S. export sales announcements and weekly sales data during the federal government shutdown.

• The agency was expected to release weekly U.S. export inspections data on Tuesday, one day later than normal due to a federal holiday on Monday.