CBOT soybean and corn futures ended stronger on Tuesday.
Farmer selling of corn this week has increased supplies in the export pipeline after most-active corn futures Cv1 hit a three-year high on Monday, traders said.
The USDA lowered its condition ratings for the nation's corn and soybean crops by more than expected in a weekly report on Monday.
CIF basis bids for corn barges loaded in August were steady at about 80 cents a bushel over CBOT September CU26 futures. Basis bids for September barges rose 2 cents to 95 cents over futures.
FOB corn export premiums were 8 cents lower at about 112 cents over futures for shipment in the first half of September and down 9 cents at 111 cents over futures for shipments in late September.
Russia, the world's largest wheat exporter, was looking into an array of urgent measures to bolster grain exports after Ukrainian drone attacks stopped shipments through the Sea of Azov and the Black Sea.
There has been growing talk about importers seeking alternatives to Russian and Ukrainian wheat, pushing up physical premiums in the European Union.
Soybean basis firms on export demand
CHICAGO, Aug. 25 (Reuters) - Basis bids for soybeans loaded on barges and delivered to U.S. Gulf Coast terminals were flat to higher on Tuesday on export demand, traders said.
Exporters sold 132,000 metric tons of U.S. soybeans to unknown destinations for delivery in the 2026/27 marketing year, the U.S. Department of Agriculture said in its daily reporting system.
There was talk in the market about Chinese demand, traders said.
Chinese government buyers in recent weeks have increased purchases of new-crop U.S. soybeans ahead of President Xi Jinping's planned White House visit in September.
A U.S. plan to expand economic sanctions on Iran and its trading partners has stoked worries about future large purchases because China is a major buyer of Iranian crude oil.
CIF soybean basis bids for barges loaded in August were 2 cents higher at 107 cents over Chicago Board of Trade November SX26 futures.
October barges traded at 110 cents over futures.
FOB basis offers for soybeans loaded in early September were around 125 cents over futures. Late September loadings were also offered around 125 cents over futures, down 5 cents.
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