CIF/FOB Gulf Grain-Corn barge bids firm, low river levels rattle traders
Aug 19 (Reuters) -Spot basis bids for corn shipped by barge to the U.S. Gulf Coast were firm on Monday as lower water levels on the Mississippi River fueled concerns about potential transportation disruptions during harvest time, traders said.
* Barge freight costs have jumped as river water levels make loaders nervous. BG/US
* Exporters sold 332,000 metric tons of U.S. soybeans to China and 110,000 metric tons of U.S. soy to unknown destinations, all for 2024/2025 delivery, the U.S. Department of Agriculture said.
* USDA separately reported that 398,233 metric tons of U.S. soybeans and 1,166,090 metric tons of U.S. corn were inspected for export in the week ended on Aug. 15. The inspections were within analysts' estimates.
* CIF Gulf corn barges loaded in August were bid one cent higher at 56 cents over CBOT September CU24 futures. September corn barges were bid at 68 cents over futures.
* FOB Gulf September corn export premiums were steady at 82 cents over CBOT September corn futures. October export premiums rose 3 cents to 81 cents over CBOT December futures CZ24.
* CIF Gulf soybean barges loaded in August were bid 2 cents lower at 57 cents over CBOT November SX24 soybean futures. September soybean barge bids were up 10 cents 60 cents over futures.
* FOB soy export premiums for early September loading at the Gulf remained at about 108 cents over November futures. Last-half September shipments were offered steady at around 90 cents over futures.
Reporting by Tom Polansek; Editing by Mohammed Safi Shamsi
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
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