CIF/FOB Gulf Grain-Soybean basis bids remain largely steady
CHICAGO, Oct 28 (Reuters) - Basis bids for soybeans shipped by barge to the US Gulf Coast remained largely flat on Wednesday as traders monitored currency moves in top supplier Brazil.
The Brazilian real weakened slightly against the US dollar, after a bruising selloff on Monday, when it marked its biggest one-day fall since 1999.
Global export business may shift to Brazil from the US due to the real's decline, analysts said.
Exporters sold 120,000 metric tons of US soybeans to unknown destinations for 2026/27 delivery, the US Department of Agriculture said.
This was the first US soybean sale that USDA confirmed in its daily reporting system since October 22. Previously, the agency announced a string of sales to China and unknown buyers.
The USDA on Thursday is expected to report that 2026-27 US soybean export sales were 1.8 million to 3 million metric tons in the week that ended on October 22, analysts said.
CIF soybean barges loaded in October were bid at 107 cents over Chicago Board of Trade November soybean futures, which was down 1 cent from Tuesday.
October soybean barges traded at 108 cents over futures, while November barges traded at 114 cents over futures.
FOB export premiums for Gulf soybeans loaded in November were about 124 cents over futures, up 2 cents.
For corn, the USDA on Thursday is expected to report weekly US export sales of 800,000 to 1.6 million metric tons, analysts said.
Russian authorities have issued permits for vessels carrying grain for export to leave the Sea of Azov for the first time since July 10, when they closed maritime traffic in the area due to Ukrainian drone attacks, seven industry sources told Reuters.
CIF corn barges loaded in October were bid at 86 cents over CBOT December corn futures, up 2 cents from Tuesday.
January corn barges traded at 94 cents over May futures.
FOB export premiums for Gulf corn loaded in November were around 106 cents over December futures, up 1 cent.
For displays of CIF basis, click on the codes in brackets:
US CIF Gulf soybeans
US CIF Gulf corn
US CIF Gulf SRW wheat
US CIF Gulf HRW wheat
For displays of FOB basis, please click on the following codes in brackets:
US FOB Gulf corn
US FOB Gulf soybeans
US FOB Gulf SRW wheat
US FOB Gulf HRW wheat
LINKS
US barge freight BG/US
US export sales estimates USDA/EST
US grain export summary GRA/U
Brazil soybean export prices
Brazil corn export prices