CIF/FOB Gulf Grain-Soybean barge basis flat-down, corn bids ease

CHICAGO, Feb 26 (Reuters) - Spot basis bids for soybeans delivered by barge to the U.S. Gulf Coast were flat to lower on Wednesday, while corn bids edged down, traders said.

Uncertainty persisted in the markets over the risk for tit-for-tat tariffs to disrupt U.S. agricultural exports.

U.S. President Donald Trump raised hopes for another month-long pause on steep new tariffs on imports from Mexico and Canada, saying they could take effect on April 2.

Such a delay would provide more time for officials to strike possible deals to avoid trade disruptions, a broker said.

The U.S. Department of Agriculture on Thursday is expected to report 2024-25 U.S. soybean export sales of 200,000 to 600,000 metric tons for the week ended February 20, according to a Reuters poll of analysts. Weekly U.S. corn sales for 2024-25 are expected to be 900,000 to 1.65 million metric tons.

The USDA on Thursday is also slated to publish U.S. crop plantings, yield, production and ending stocks estimates for the 2025-26 marketing year at its annual outlook forum.

CIF soybean barges loaded in February were bid 3 cents higher at 88 cents over CBOT March futures SH25, while March loadings were flat at 84 cents over futures.

FOB export premiums for March soybean loadings were down 1 cent at 90 cents over futures.

Brazilian soybeans continue to be less expensive for shipment to Asia than U.S. supplies, a broker said.

For corn, CIF barges loaded in February were bid at 80 cents over CBOT March futures CH25, down 4 cents. March barges bid at 75 cents over futures, down 3 cents.

Export premiums for corn loaded in the first half of March were 95 cents over futures, which was unchanged. Offers for the last-half of March were 92 cents over futures, up 2 cents.

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