CIF/FOB Gulf Grain-Soybean barge bids higher on demand, river freight rates
July 18 (Reuters) -Basis bids for soybeans shipped by barge to U.S. Gulf Coast terminals turned strongly higher on Thursday, on signs of export demand and as sellers try to keep pace with rising river freight, traders said.
* Basis bids for corn also ticked higher, traders said.
* Empty barge freight rates along the Illinois River continued to stay firm, traders said, as some barges are being repositioned to meet anticipated demand along the upper and middle portions of the Mississippi River. BG/US
* But headwinds remain from currency pressures, as the Brazilian real weakens against the U.S. dollar .DXY, and the weather in Brazil remains favorable, traders said.
* Exporters sold 510,000 metric tons of U.S. soybeans to unknown destinations for 2024/25 delivery, the U.S. Department of Agriculture said Thursday.
* Exporters sold 150,000 metric tons of U.S. soybeans to unknown destinations for 2024/25 delivery, the U.S. Department of Agriculture said Thursday.
* CIF corn barges loaded in August traded at 63 cents a bushel over CBOT September CU24 futures, traders said.
* CIF corn barges loaded in July were bid around 63 cents over Chicago Board of Trade September CU24 corn futures, up 2 cents from Wednesday. Barges loaded in August were bid about 64 cents over futures, up 1 cent.
* FOB offers for corn shipments loaded from the Gulf in August were down 2 cents, at around 74 cents over September futures.
* CIF soybean barges loaded in August traded at 68 cents a bushel over CBOT August SQ24 futures, traders said.
* CIF soybean barges loaded in July were bid at 82 cents a bushel over CBOT August SQ24 futures, up 6 cents from Wednesday. Bids for August barge loadings were 65 cents over futures, up 5 cents, traders said.
* FOB export premiums for soybean shipments loaded from the Gulf in August were down 1 cent, at around 94 cents over CBOT August futures.
Reporting by P.J. Huffstutter; 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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