Gulf grain-corn, soybean barge bids stay mostly flat in the US
Market & Price Trends
Grains, Cereal & Legumes
Published Feb 12, 2024
Grain dealers report that basis bids for corn and soybeans shipped by barge to the U.S. Gulf Coast for export have remained steady. Despite sluggish U.S. corn export demand, the potential for U.S. soybean export sales is being evaluated as Brazil, the world's leading supplier, continues its harvest. Brazilian farmers have harvested about 24% of their soybean area, an increase from 17% this time last year. CIF Gulf corn and soybean barges loaded in February and March were bid at 54 cents and 69 cents over Chicago Board of Trade March futures respectively.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
* Brazilian farmers have harvested about 24% of their soybean area, compared to about 17% a year ago, consultancy Patria Agronegocios said. * CIF Gulf corn barges loaded in February were bid at 54 cents over Chicago Board of Trade March CH24 futures. March barge bids were about 56 cents over futures. * FOB basis offers for February corn loadings stayed around 69 cents over futures. March premiums were steady at around 64 cents over futures. * CIF Gulf soybean barges loaded in February and March were each bid 69 cents over Chicago Board of Trade March soy SH24 futures. * Export ...