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

CHICAGO, March 24 (Reuters) - Spot basis bids for soybeans and corn delivered by barge to the U.S. Gulf Coast were flat to lower on Monday, traders said.

Farmer selling remains slow, and limited supplies at the Gulf are keeping the CIF market inverted, particularly for soybeans. Barges for March are commanding a premium over later loadings.

The U.S. Department of Agriculture reported that 822,214 metric tons of U.S. soybeans and 1,463,093 metric tons of U.S. corn were inspected for export in the week ended March 20. Both were within analysts' expectations.

The U.S. and Brazil are competitive for soybean sales to top importer China, though Brazil has an advantage, traders said.

Brazilian farmers have harvested most of their soybean fields. They are set to produce 165.9 million metric tons in the 2024/25 season, 2.3 million tons less than previously forecast, consultancy AgRural said.

President Donald Trump's plan to revitalize the U.S. shipbuilding industry is likely to backfire because it relies on proposed fees on China-linked vessels that will hurt domestic ship operators and ports, according to industry executives.

CIF Gulf soybean barges loaded in March were bid at 83 cents over CBOT May SK25 soybean futures, down 1 cent from Friday. April soy barges were bid at about 76 cents over futures, which was steady from Friday.

FOB export premiums for soybeans shipped from the Gulf in May, the first month available, were offered at about 87 cents over May futures, down 1 cent.

For corn, CIF Gulf barges loaded in March were bid at 72 cents over CBOT May CK25 corn futures, which was unchanged from Friday. April corn barges were bid at 68 cents over futures, down 1 cent.

FOB export premiums for corn shipped from the Gulf in April were about 79 cents over futures, down 1 cent from Friday. Offers for May corn shipments held steady at about 74 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

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