CIF/FOB Gulf Grain-Soybean barge basis steady-mixed as China buys more soybeans; corn bids firm
CHICAGO, July 13 (Reuters) - Basis bids for soybeans shipped by barge to U.S. Gulf Coast terminals were steady to mixed on Monday, while corn basis bids ticked higher, traders said.
Condition ratings for U.S. corn and soybean crops improved slightly last week, the U.S. Department of Agriculture said in a weekly report on Monday, as the risk of hot and dry weather loomed.
The U.S. Department of Agriculture confirmed private sales of 136,000 metric tons of U.S. soybeans to China for shipment in the 2026/27 marketing year.
Traders are anticipating that China will soon reduce its retaliatory tariff on U.S. soybean imports that Beijing imposed after U.S. President Donald Trump raised duties on Chinese goods. A Chinese tariff cut could make U.S. soybeans cheaper for private importers who have been largely buying from Brazil, traders said.
CIF soybean barges loaded in December-January traded at 100 cents over CBOT January 2027 SF27 soybean futures. Meanwhile, July soy barges were bid at 106 cents over CBOT August soybean futures SQ26, while August barges were bid down 1 cent at 108 cents over futures.
FOB offers for August soybean shipments from the Gulf of Mexico were unchanged at 120 cents over CBOT August futures.
CIF corn barges loaded in July were bid up 2 cents at 100 cents over CBOT July futures CN26. August corn barges were bid up 2 cents at 102 cents over September futures CU26.
FOB export premiums for Gulf corn vessels loaded in August were up 2 cents at 116 cents over September futures for loadings in the first half of the month, and up 1 cent at 119 cents over futures for last-half loadings.
For displays of CIF basis, click on the codes in brackets:
U.S. CIF Gulf soybeans GRYM
U.S. CIF Gulf corn GRYN
U.S. CIF Gulf SRW wheat GRYO
U.S. CIF Gulf HRW wheat GRYP
For displays of FOB basis, please click on the following codes in brackets:
U.S. FOB Gulf corn GRZC
U.S. FOB Gulf soybeans GRZD
U.S. FOB Gulf SRW wheat GRZE
U.S. FOB Gulf HRW wheat GRZF
LINKS
Corn prices page: cpurl://apps.cp./cms/?pageid=corn-cash-market
Wheat prices page: cpurl://apps.cp./cms/?pageid=wheat-cash-market
U.S. barge freight BG/US
U.S. export sales estimates USDA/EST
U.S. grain export summary GRA/U
Brazil soybean export prices SYBS
Brazil corn export prices SYBX
Argentina grain prices GRA/ARG
Russia grain prices GRA/RU
