CIF/FOB Gulf Grain-Corn, soy barge bids continue to weaken

CHICAGO, June 5 (Reuters) - Spot basis values for corn and soybeans shipped by barge to U.S. Gulf Coast export terminals declined on Friday, extending the weaker trend of the last few days as incoming supplies were met with slowing demand from exporters, traders said.

  • Active springtime grain sales by farmers have stalled as Chicago Board of Trade corn CN26 and soybean SN26 futures have plunged since late May, pressured by improving U.S. crop production prospects and aggressive speculative selling. GRA/

  • CIF values continued to soften on Friday while CBOT futures tumbled to fresh multi-month lows. For the week, CBOT July corn CN26 plunged by 29-1/4 cents a bushel or 6.5%, and settled at $4.17-1/2 per bushel, while July soybeans SN26 dropped 65-1/4 cents a bushel or 5.5%, ending the week at $11.21-1/2.

  • At the Gulf, CIF corn barges loaded in June were bid at 72 cents over CBOT July CN26 futures and offered at 78 cents over futures, down 2 cents from Thursday's offer.

  • CIF July corn barges traded at 86 and 85 cents over futures, below Thursday's trades at 88 cents over futures.

  • FOB export premiums for Gulf corn vessels loaded in July held steady at around 102 cents over futures.

  • For soybeans, CIF barges loaded in June were bid at 70 cents over CBOT July SN26 futures, down 7 cents from Thursday's bid.

  • July soybean barges traded at 92 cents over futures.

  • FOB export premiums for soybean vessels loaded at the Gulf in July were unchanged at around 108 cents over futures.

  • The U.S. Department of Agriculture confirmed private sales of 115,000 metric tons of U.S. new-crop corn to Colombia.

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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