Global grain and oilseed markets

Basis bids for soybeans shipped by barge to the U.S. Gulf Coast and for export were mixed on Tuesday after a sharp rise on Monday amid a surge in sales to China. Traders could not confirm that China bought any additional soybean cargoes on Tuesday after the world's largest importer booked at least 14 cargoes the previous day for shipment from U.S. Gulf Coast and Pacific Northwest terminals. The U.S. Department of Agriculture reported in its daily reporting system on Tuesday morning that U.S. soybean sales were at 792,000 tons, confirming a Reuters report from Monday, according to oilworld.ru. Soybean futures on the Chicago Mercantile Exchange rose to their highest level since June 2024 amid news of the sales to China. The sharp price jump curbed demand growth for new crop on Tuesday. Prices for Brazilian soybeans were also significantly lower than for U.S. soybeans. Soybean barges CIF Gulf loaded in November were offered at 74 cents per bushel compared to January futures on the ...