US Gulf soybean bids mixed, export premiums lower
SOYB•US Gulf soybean barge bids were mixed Wednesday, while soybean export premiums fell and corn premiums rose. December-loaded soybean barges were bid at $1 over December futures, down from the previous day.
1. Gulf bids diverge
Basis bids for soybeans shipped by barge to the US Gulf were mixed Wednesday, and export premiums for soybeans fell. December-loaded soybean barges were bid at $1 over December futures, down from the previous day; November-loaded corn barges were bid at 82 cents over November futures, up from the previous day.
2. Futures retreat
Chicago December corn futures settled down 6 cents, or 1.2%, at $5.02 a bushel, while November soybeans fell 5-1/2 cents, or 0.4%, to $12.97-1/2. Analysts cited the expanding Midwest harvest, a strong dollar and uncertainty before the USDA’s monthly crop supply-and-demand reports due Friday.
