CIF/FOB Gulf Grain-Corn barge basis bids ease ahead of anticipated Trump tariffs

CHICAGO, April 1 (Reuters) - Spot basis bids for corn delivered by barge to U.S. Gulf Coast terminals eased on Tuesday, as freight rates remained elevated and traders braced for new U.S. tariffs.

CIF spot soybean basis bids were mostly steady, even as demand remained somewhat seasonally soft, traders said.

The White House confirmed on Tuesday that President Donald Trump will impose new tariffs on Wednesday, though it provided no details about the size and scope of trade barriers that have businesses, consumers and investors fretting about an intensifying global trade war.

U.S. barge freight rates stayed elevated on Tuesday, and forecasts for storms across parts of the Ohio River Valley could create barge transit times over the next 10 days, trade analysts said. BG/US

CIF Gulf corn barges loaded in March were bid 2 cents lower at 77 cents over Chicago Board of Trade May CK25 corn futures. April corn barges were steady, bid at 74 cents over futures.

FOB export premiums for corn shipped from the Gulf in April were steady at around 90 cents over futures, while offers for May corn shipments were about 80 cents over futures.

Chicago Board of Trade soybean Sv1 futures rose on Tuesday ahead of a meeting between a coalition of oil and biofuel groups and the U.S. Environmental Protection Agency to discuss raising federal mandates for biomass diesel blending.

CIF Gulf soybean barges loaded in March were bid at 77 cents over CBOT May SK25 soybean futures, steady from Monday. April soy barges also were bid steady at 74 cents over futures.

FOB export premiums for soybeans shipped from the Gulf in late April were around 92 cents over May futures. May offers were flat at 87 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