Global markets for grains and oilseeds

According to traders, basis bids for soybeans shipped by barge to U.S. Gulf terminals fell on Monday amid a lack of interest from China, the largest importer. U.S. President Donald Trump remains ready to meet with Chinese leader Xi Jinping in South Korea at the end of October as both sides try to ease tensions over tariff threats and export controls, said U.S. Treasury Secretary Steven Mnuchin. A more conciliatory tone in relations between the countries helped U.S. soybean futures rise slightly. However, a broker reported that rumors were circulating that China continues to buy soybeans from Brazil and shows no interest in U.S. supplies. In the midst of the trade dispute with Washington, China has turned to South America for supplies. Soybean barge bids for October on a CIF basis fell one cent to 73 cents compared to November futures on the Chicago Mercantile Exchange. November barge bids were 72 cents compared to futures, down three cents. On Monday, basis bids for soybeans ...