Global markets for grains and oilseeds

Basis prices for soybeans shipped by barge to U.S. Gulf Coast terminals remained stable or even high on Friday, while export premiums rose slightly as traders anticipated increased sales to China following trade negotiations this week. Basis prices rose this week ahead of a meeting between Chinese President Xi Jinping and U.S. President Donald Trump on Thursday. U.S. officials said China pledged to resume purchases of U.S. soybeans after a long hiatus, with expected demand reaching 12 million tons by January. Traders reported rumors that China bought a minimal amount of oilseeds following the meeting, but could not confirm sales or volumes. Three cargoes were reserved before the meeting, marking China's first known purchase since May. CIF Gulf barge soybean prices for October and November delivery rose by 2 cents to 96 cents compared to November CBOT futures. FOB export premiums for soybeans shipped in December rose by 2 cents to 102 cents compared to January CBOT futures (SF26). ...