Global grain and oilseed markets

On Tuesday, basis levels for corn and soybeans in the U.S. Midwest were stable or even increased, reflecting slow farmer selling in some areas even as harvesting of both crops continued. According to traders, basis levels for soybeans shipped by barge to terminals on the U.S. Gulf Coast strengthened on Tuesday, and export premiums continued to rise as market participants awaited new guidance and news on trade negotiations between the U.S. and China. The price for soybean barges CIF Gulf loaded in October rose by 8 cents to 70 cents compared to CBOT November futures. The price for November delivery barges was 75 cents compared to futures, which is 2 cents higher. FOB export premiums for soybeans with October delivery increased by 7 cents to about 78 cents compared to futures. Analysts report that soybean futures on the Chicago Mercantile Exchange strengthened on Tuesday, recovering after two sessions of declines, driven by technical and seasonal buying as traders awaited news on ...