CIF/FOB Gulf Grain-Nearby soybean, corn barge bids firm on demand
Nov 19 (Reuters) -Spot basis bids for soybeans and corn shipped by barge to U.S. Gulf Coast ticked higher on Tuesday on exporter demand, traders said.
* Increased rainfall this month has lifted water levels on the Mississippi River, hastening the movement of grain barges toward the Gulf and allowing for heavier loads on fewer barges.
* Chicago Board of Trade wheat futures Wv1 set a one-week high on Tuesday amid fears of an escalating war in the Black Sea breadbasket region as U.S.-Russiantensions worsenedover Ukraine, analysts said.
* Soybean futures Sv1 turned lower, while corn Cv1 ended modestly lower. GRA/
* At the Gulf, CIF soybean barges loaded in split-December traded at 89 cents over CBOT January SF25 futures. Barges loaded in December traded at 87 cents, split-January traded at 89 cents, and January traded at 87 cents - all over January futures.
* Bids for CIF soybean barges loaded in November were around 92 cents over CBOT January SF25 futures, up 3 cent from Monday, while December soybean barges were bid up 1 cent at 86 cents over futures.
* Offers for deferred months eased, brokers said.
* Spot demand gave FOB export premiums for soybeans shipped out of the Gulf in December and January a boost, with offers at around 113 cents over futures, up 1 cent from Monday.
* For corn, CIF barges loaded in November were bid at 79 cents over CBOT December CZ24 futures, up 1 cent, while December barges were bid steady at around 80 cents over futures.
* FOB offers for January corn shipped out of the Gulf, the first month available, were steady at 94 cents over CBOT March CH25 futures. Deferred months ticked higher on signs of demand, one broker said.
Reporting by P.J. Huffstutter; Editing by Richard Chang
)
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
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.