CIF/FOB Gulf Grain-Spot soybean basis bids slip as barge freight rates rise

CHICAGO, March 25 (Reuters) - Spot basis bids for soybeans delivered by barge to the U.S. Gulf Coast eased on Tuesday, traders said, as barge freight rates rose.

Some navigation restrictions have slowed barge traffic on parts of the Mississippi River, a trader said.

Traders also said there was a lack of demand overnight from top-importer China and weaker basis levels in Brazil, which is the world's biggest soybean exporter and competes with the U.S. for global sales.

Brazilian farmers are continuing to harvest their crops, while U.S. farmers prepare for plantings and monitor the risk for tariff disputes to hurt demand for American crops.

The U.S. reached deals with Ukraine and Russia, both major grain exporters, to pause attacks at sea and against energy targets. Washington also committed to help seek the lifting of international sanctions on Russian agriculture and fertilizer exports.

CIF Gulf soybean barges loaded in March were bid at 82 cents over CBOT May SK25 soybean futures, down 1 cent from Monday. April soy barges were bid at about 74 cents over futures, down 2 cents.

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

CIF Gulf corn barges loaded in March were bid at 72 cents over CBOT May CK25 corn futures, while April corn barges were bid at 68 cents over futures. Both were steady from Monday.

FOB export premiums for corn shipped from the Gulf in April were about 80 cents over futures, up 1 cent. Offers for May corn shipments were about 76 cents over futures, up 2 cents.

text_section_type="notes">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