CIF/FOB Gulf Grain-Corn basis bids stay largely steady

CHICAGO, Oct 15 (Reuters) - Spot basis bids stayed largely steady for corn shipped by barge to U.S. Gulf Coast terminals on Wednesday as low grain prices encouraged export demand, traders said.

• South Korea's Major Feedmill Group bought a total of about 138,000 metric tons of feed corn in private deals, while the Korea Feed Association in South Korea purchased an estimated 131,000 metric tons of feed corn, traders said. The grain was expected to be sourced from the United States, South America or South Africa.

• Buyers were willing to step into the market to take advantage of weak prices, a broker said. Most-active U.S. corn futures Cv1 on Tuesday hit their lowest level since August 28.

• CIF corn basis bids for October barges were about 77 cents over Chicago Board of Trade December CZ25 futures, while November barge loadings were bid at 78 cents over futures.

• On Tuesday, October barges traded at 79 cents over CBOT December CZ25 futures, traders said.

• FOB export premiums for October corn shipments slipped 1 cent to about 93 cents over futures.

• The U.S. Department of Agriculture has stopped issuing daily export sales announcements and weekly export sales data due to the federal government's shutdown.

• Analysts estimated U.S. corn export sales were 500,000 to 1.4 million metric tons in the week that ended on October 9, according to a Reuters poll. They estimated U.S. soybean export sales were 900,000 to 2 million metric tons.

• China, the world's biggest soybean importer, has not purchased soybeans from the autumn U.S. harvest due to the trade dispute with Washington.

• U.S. Treasury Secretary Scott Bessent said Washington did not want to escalate the conflict and that President Donald Trump was ready to meet Chinese President Xi Jinping in South Korea later this month.

• CIF basis bids for October soybean barges were about 73 cents over CBOT November SX25 futures. November barges were bid at 74 cents over futures, up 2 cents.

• On Tuesday, October soy barges traded at 73 cents over November SX25 futures and 76 cents over futures, traders said.

• FOB export premiums for October-loaded soybeans were unchanged at about 78 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