CIF/FOB Gulf Grain-Soybean barge basis lower, corn slightly higher

CHICAGO, Feb 3 (Reuters) - Basis bids for soybeans shipped by barge to the U.S. Gulf Coast eased lower on Monday on a volatile trading day in the grain and oilseed futures markets, while spot CIF corn basis bids ticked higher, traders said.

Chicago Board of Trade corn, wheat and soybean futures jumped on Monday, rallying from early declines, amid news that U.S. President Donald Trump's tariffs threatened on Mexican and Canadian goods would be paused for a month. GRA/

Trump warned on Monday he might increase tariffs on Beijing beyond the 10% he imposed and that he would discuss the matter with the Chinese government's leadership in the next day or so.

Farmer selling of both corn and soybeans has slowed following a period of active grain sales in mid-January that allowed end users to build up their near-term coverage.

Spot barge freight rates on the Mississippi River at St. Louis, as well as the stretch between Memphis to Cairo terminals, eased on Monday - which attracted some buyer interest, industry sources said. BG/US

Ice on northern waterways continues to slow loading and navigation, trade sources said.

Brazil's 2024/25 soybean crop is expected to reach a record 174 million metric tons, agribusiness consultancy Celeres said on Monday, bumping up its forecast from a prior 170.8 million tons due to positive weather conditions.

CIF Gulf soybean barges loaded in January were bid 2 cents lower than Friday, at 58 cents over Chicago Board of Trade March SH25 futures. February soybean barges bid at 62 cents over futures, steady from Friday.

FOB export premiums for February soybean loadings were steady at 75 cents over futures.

CIF January corn barge bids were up a penny at 71 cents over CBOT March CH25 futures while February corn export premiums held flat at 78 cents over futures.

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