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

CHICAGO, Oct 20 (Reuters) - Spot basis bids for soybeans delivered by barge to U.S. Gulf Coast terminals rose on Monday, traders said, as U.S. President Donald Trump said he believed Beijing would agree to a soybean trade deal.

• Trump said he believed China would buy U.S. soy again, after shipments in September fell to zero for the first time since November 2018.

• China has turned to South America for supplies during its trade war with Washington. However, Chinese importers have been cautious about buying Brazilian soy lately, even if they have not switched to the U.S., a trader said.

• Last week, trade sources said China has yet to secure much of its soybean supply for December and January as high premiums for Brazilian cargoes discouraged buyers.

• CIF basis bids for October soybean barges were about 2 cents higher at 77 cents over Chicago Board of Trade November SX25 futures. November barges were bid at 79 cents over futures, also up 2 cents.

• FOB export premiums for October-loaded soybeans were about 92 cents over futures.

• The U.S. Department of Agriculture reported weekly U.S. soybean export inspections were 1.5 million metric tons for soybeans and 1.3 million metric tons for corn.

• CIF corn basis bids for October barges were about 82 cents over CBOT December CZ25 futures, up 2 cents. November barge loadings were bid 1 cent higher at about 81 cents over futures.

• FOB export premiums for October corn shipments were flat at around 93 cents over futures.

• Worries about U.S. tensions with Colombia, a major buyer of U.S. corn, hung over the corn market.

• Colombia said it recalled its ambassador from Washington after Trump said he would raise tariffs on the South American nation and stop all payments to it.