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CIF/FOB Gulf Grain-Corn barge bids steady to mostly higher

CIF/FOB Gulf Grain-Corn barge bids steady to mostly higher

reuters.com · 04/29/2022 18:16
CIF/FOB Gulf Grain-Corn barge bids steady to mostly higher

- Basis bids for corn shipped by barge to the U.S. Gulf Coast were steady to mostly firmer on Friday and higher in the week as improved demand from China underpinned values, traders said.

* Chinese importers booked more than 1 million tonnes of U.S. corn earlier this week and traders are watching for additional purchases as grain flows remain largely suspended from Ukraine, which is among China's limited number of approved suppliers.

* Basis values climbed despite continued strength in the futures market. The most active Chicago Board of Trade corn contract Cv1 touched a fresh decade high on Friday. COR/

* CIF soybean basis bids were mostly flat on seasonally slow demand and muted farmer sales.

* CIF corn basis bids for barges loaded in April were about 90 cents over Chicago Board of Trade (CBOT) May CK2 futures, up 2 cents from Thursday. May barges were bid 3 cents higher at 87 cents over May futures.

* FOB basis offers for May corn shipments were up 5 cents at about 105 cents over May CK2 futures.

* CIF Gulf basis bids for soybean barges loaded in April were unquoted. May barges were bid 93 cents over CBOT May SK2 futures, up a penny.

* FOB basis offers for soybeans loaded at the Gulf in May were held steady at about 132 cents over futures.

(Reporting by Karl Plume; Editing by Aditya Soni)

((karl.plume@thomsonreuters.com; +1 313 484 5285; Reuters Messaging: karl.plume.thomsonreuters.com@reuters.net))

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 U.S. grain export summary GRA/U Brazil soybean export prices SYBS Brazil corn export prices SYBX Argentina grain prices GRAIN/ARG Russia grain prices GRAIN/RU