Basis bids for soyabeans shipped by barge to the US Gulf Coast fell on Monday, easing as futures prices gained and farmers boosted sales, traders said. Soyabean futures climbed to roughly three-week high, enticing scattered farmer sales - supplies that barge shippers could offer to the export market in the next few days.
Corn barge basis bids were flat to slightly higher, supported by limited farmer sales, while bids for hard red winter wheat shipped by train to the Gulf Coast climbed amid relatively tight supplies of some protein classes. Soyabean barges were bid at 20 cents over the Chicago Board of Trade January soyabean futures contract for December loadings, down about 8 cents from last week.
December soyabean shipments from the Gulf were offered at 43 cents over futures, steady than Friday. CIF corn barges for first-half December delivery were bid at 26 cents over Chicago Board of Trade December futures, up a penny.
December corn export shipments from the Gulf were offered at about 50 cents over CBOT March. December soft red winter wheat barges were bid at 65 cents over CBOT December futures, unchanged.
December export premiums for soft red winter wheat were steady at 75 cents over futures. December CIF hard red winter wheat bids were up 5 cents at 230 cents over the K.C. March contract for 12 percent protein grain. December export shipments were offered around 215 cents over futures.
Published under arrangements with Reuters.
No content from Business Recorder shall be reproduced, published, broadcast, rewritten for broadcast or publication, or redistributed directly or indirectly in any medium.
Business Recorder shall not be responsible or held liable for any error of fact, opinion or recommendation and also for any loss, financial or otherwise, resulting from business or trade or speculation conducted, or investments made, on the basis of the information posted here. Nor shall Business Recorder be held liable for any actions taken in consequence." >Copyright Reuters, 2017