Base bids for corn and soybeans shipped by barge to US Gulf Coast terminals were mixed on Friday after a week of volatility in futures markets and moderation in barge freight rates.
* The developing drought will continue to be a problem in much of the Midwest, the US Department of Agriculture said in a daily report.
* For the week ended May 25, US corn exports and soybean sales for 2022-2023 were in line with analysts’ expectations, the USDA reported Friday.
* The United States is escalating its row with Mexico over agricultural biotechnology measures, including its stance on GM corn, by demanding dispute-settlement consultations, senior officials at the Office of the US Trade Representative said on Friday.
* Ukraine would be ready to continue exporting grain across the Black Sea as part of a “Plan B” without Russian support if Moscow pulls the plug on the current grain export deal and it falls through, Ukraine’s agriculture minister said on Friday.
* CIF corn ships loaded in June were bid at 63 cents via CBOT July (CN3) futures, up 2 cents from Thursday. Corn ships were bid at 48 cents via futures in July, down 1 cent.
* Export premiums for FOB corn remained stable and were offered at 97 cents versus July futures (CN3) for delivery in the first half of June. and 93 cents over futures for delivery in the last half of the year.
* CIF Gulf base bids for soybean ships loaded for delivery in the first half of June traded at 95 cents against Chicago Board of Trade (CBOT) July soybean futures (SN3).
* They were later offered with no bid at 97 cents versus the July futures. In July, soybean barges were offered with 61-cent futures, steady from Thursday.
* FOB Gulf soybean export premiums were offered at 97 cents versus July futures for June loads in the first half, up 4 cents; and up 2 cents for top-ups in the last half of June at 95 cents via futures.
Comments are closed.