CIF/FOB Gulf Grain-Gulf soybean barge bids ease, corn bids mostly steady
Spot basis bids for soybean shipped by barge to the U.S. Gulf Coast ticked lower on Friday, while corn bids were mostly steady, as higher river levels continued to allow for heavier loads, traders said.
Increased rainfall this month has lifted water levels on the Mississippi River, hastening the movement of grain barges toward the Gulf.
The U.S. Department of Agriculture confirmed private sales of 198,000 tons of U.S. soybeans to unknown destinations, all for delivery in the 2024/25 marketing year.
At the Gulf, CIF soybean barges loaded in November traded at 91 cents, 92 cents and 94 cents over Chicago Board of Trade January soybean SF25 futures.
CIF soybean barges loaded in early December also traded at 89 cents over January soybean futures, and January loadings traded at 87 cents over futures.
At the Gulf, bids for CIF soybean barges loaded in November were down 2 cents at around 87 cents over CBOT January soybean futures, while December soybean barges were steady at 85 cents over January futures.
FOB export premiums for soybeans shipped out of the Gulf in December were steady, offered at about 111 cents over January futures, while January offers were at about 110 cents over futures.
CIF corn barges loaded in April and May traded 64 cents over CBOT May corn CK25 futures.
For corn, CIF barges loaded in November were bid steady at 80 cents over CBOT December CZ24 futures, while December barges were bid up 1 cent at around 82 cents over futures.
FOB offers for January corn shipped out of the Gulf, the first month available, were steady at 92 cents over CBOT March CH25 futures.
Source: Reuters (Reporting by P.J. Huffstutter; Editing by Mohammed Safi Shamsi)