US Gulf soybean, corn bids mixed as export premiums rise
SOYB•US Gulf barge bids for soybeans and corn were mixed on Thursday, while FOB export premiums turned higher. Soybean futures fell 9 cents to $12.84 per bushel, and August US soybean crush was 209.6 million bushels, below trade estimates.
1. Soybean and corn markets
Basis bids for soybeans and corn shipped by barge to the US Gulf were mixed on Thursday, while FOB export premiums turned higher. Soybean futures settled down 9 cents at $12.84 per bushel, after touching their lowest level since August 28.
2. Harvest and stocks
Analysts cited harvest supply from an expected record-large US crop and concerns about export demand as pressure on soybean prices. Wet weather slowed the harvest, while the USDA said US farmers and grain handlers had 35% more corn in storage on September 1 than a year earlier. August soybean crush totaled 209.6 million bushels, below the average trade estimate.
