CIF/FOB Gulf Grain-US Gulf soybean, corn bids mixed; export premiums ease
CHICAGO, Oct 1 (Reuters) - Basis bids for soybeans and corn shipped by barge to the US Gulf were mixed on Thursday and FOB export premiums turned higher.
Supply pressure from the harvest of what is expected to be a record-large US crop also cast a pall over soybean prices, along with concerns about export demand, market analysts said.
A wet late summer and early autumn have slowed the harvest pace.
Concern about a slowing pace of the US soybean crush added pressure to soybean futures during the session, traders said. The USDA reported after the market closed that US soybean processors crushed 209.6 million bushels of soybeans in August, below an average of trade estimates.
Chicago Board of Trade corn futures ended the session higher on a spurt of technical buying, after traders spent much of the day continuing to process a surprising US stocks report.
US farmers and grain handlers had 35% more corn in storage on September 1 than a year earlier, the US Department of Agriculture said on Wednesday, a bigger-than-expected increase. GRA/
The most-active CBOT soybean contract settled down 9 cents at $12.84 per bushel. Earlier in the session, the contract dipped to $12.73-3/4, the lowest since August 28.
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
Corn prices page: cpurl://apps.cp./cms/?pageid=corn-cash-market
Wheat prices page: cpurl://apps.cp./cms/?pageid=wheat-cash-market
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