Soy barge bids firm on export interest

Basis bids for soybeans shipped via barge to the U.S. Gulf Coast for export strengthened on Friday, supported by tight supplies and firming demand at the U.S. Gulf, traders said.

* U.S. exporters sold 132,000 tonnes of soybeans for delivery to China and 132,000 tonnes of soybeans for delivery to unknown destinations, both during the 2022/2023 marketing year, the U.S. Department of Agriculture said.

* Soybean barges loaded in September traded at 150 cents over November futures (SX2), while barges loaded in October traded at 117 cents over futures, traders said.

* Soybean barges loaded in August traded 10 cents firmer about 277 cents over CBOT November (SX2) futures.

* FOB export premiums for August soybean loadings held steady at around 300 cents over November futures.

* CIF corn barges loaded in August eased 10 cents, bid at around 110 cents over Chicago Board of Trade (CBOT) September corn (CU2) futures. November corn barges traded down a penny at 97 cents over CBOT December (CZ2) futures.

* Corn export premiums at the U.S. Gulf for August loadings held steady at around 155 cents over futures.

* Spot barge values eased 15% of tariff across the eastern U.S. Midwest, with spot barges on the Illinois River offered at 425% of tariff, while offers on the lower Ohio River eased to 435% of tariff.

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