Global grain and oilseed markets

According to traders, on Tuesday, spot rates for soybeans delivered by barge to terminals on the Gulf Coast of the United States increased, while corn rates remained largely stable. A spot check showed that on Tuesday, basis prices for soybeans increased at some elevators and processing plants in the US Midwest, while futures fell. Traders were watching whether Washington could strike a deal with Beijing to resolve the trade conflict, which has caused China to suspend purchases of US soybeans and switch its demand to South America. The American Soybean Association and the US Soybean Export Council reported that no new shipments of US soybeans to China, the largest importer, are expected, and no shipments are expected in the coming weeks. According to a trader, it is unknown whether China will need to purchase US soybeans from December to February while it waits for the next harvest in Brazil. According to traders, farmers were storing recently harvested soybeans in bunkers instead ...