CIF/FOB Gulf Grain-Soy barge bids jump on US export demand

CHICAGO, Oct 22 (Reuters) - Basis bids for soybeans shipped by barge to U.S. Gulf Coast terminals jumped on Wednesday, reflecting export demand to destinations other than China, traders said.

• China, the world's biggest soybean importer, remained absent from the U.S. market during the trade war with Washington.

• U.S. President Donald Trump said he expected some agreement with China to restart its purchases of U.S. soybeans as top U.S. officials headed to Malaysia to defuse a spike in trade tensions.

• The U.S. Department of Agriculture was not expected to publish its typical weekly U.S. grain and soy export sales data on Thursday due to the federal government's shutdown.

• Analysts estimated U.S. soybean export sales were 600,000 to 2 million metric tons for the week ended on October 16 and that U.S. corn export sales were 800,000 to 2 million metric tons.

• As Japan's new premier Sanae Takaichi got to work, her government began finalising a purchase package, including U.S. soybeans, to present to Trump in talks next week, two sources said.

• U.S. farmers continued to be slow sellers of newly harvested soybeans due to low prices, traders said.

• CIF basis bids for October soybean barges were 10 cents higher at about 90 cents over Chicago Board of Trade November SX25 futures. November barges were bid at 90 cents over futures, which were up 8 cents.

• FOB export premiums for November-loaded soybeans were about 100 cents over futures, up 6 cents.

• For corn, CIF basis bids for October barges were flat at about 82 cents over CBOT December CZ25 futures. November barge loadings were bid at about 81 cents over futures, which was also flat.

• FOB export premiums for October corn shipments were steady at about 93 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