CIF/FOB Gulf Grain-Corn basis barge bids steady, soybean bids ease

CHICAGO, April 17 (Reuters) - Basis bids for soybeans delivered by barge to U.S. Gulf Coast terminals eased on Thursday, while corn bids were steady, as barge freight rates softened and spot demand remained somewhat sluggish, traders said.

U.S. grain futures markets are closed on Friday for the Good Friday holiday.

The U.S. Department of Agriculture reported weekly U.S. corn and soybean export sales within analysts' expectations.

Nearby barge freight rates began to turn lower along parts of the Illinois River and on the Mississippi River near St. Louis, as navigation hurdles on the waterway began to ease, barge sources said. BG/US

Weekend storms are projected to pass over Missouri, Illinois and Indiana, with some places expecting up to four inches or more of rain. That could cause some issues with rising river levels later next week, traders said.

The U.S. Trade Representative office on Thursday is expected to exempt U.S.-owned and registered vessels from port fees to be levied on China-linked vessels, two maritime industry sources told Reuters.

President Donald Trump said on Thursday that U.S. tariffs on Chinese goods might not go higher and may even go lower.

CIF Gulf soybean barges loaded in April traded at 80 cents over CBOT May soybean futures SK25, while May loadings traded at 79 cents over futures.

Meanwhile, CIF Gulf soybean barges loaded in April were bid down 1 cent at 78 cents over CBOT May futures; May loadings were bid down 1 cents at 77 cents over futures.

Export premiums for soybeans loaded in April were steady at about 94 cents over May futures, while May shipment offers were up 2 cents at about 89 cents over futures.

CIF Gulf corn barges loaded in April were bid at 73 cents over CBOT May corn CK25 futures, steady from Wednesday.

FOB export premiums for corn shipped in April eased down 1 cent, offered at about 86 cents over May corn futures, while May shipment offers were steady at about 86 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