CIF/FOB Gulf Grain-Corn barge bids inch higher, soybean bids ease

CHICAGO, May 1 (Reuters) - Basis bids for corn delivered by barge to U.S. Gulf Coast terminals firmed, and soybeans eased on Thursday, as freight costs steadied and buyers turned their focus to South America, traders said.

• The United States is facing fierce competition for global soybean sales from South American suppliers and a lack of demand from top-importer China, analysts said

• Soybean values weakened recently in Brazil, the world's biggest supplier of the oilseed, traders said. And Argentina this week recorded its largest single-day sales volumes for soybean in 2025, according to the country's Rosario grain exchange.

• CIF Gulf corn barges loaded in June traded at 68 cents over Chicago Board of Trade (CBOT) June corn CN25 futures.

• Corn barges loaded in May were bid at 77 cents over CBOT May futures - up 1 cent from Wednesday. April loadings were bid at 79 cents over May futures.

• FOB export premiums for corn shipped from the Gulf in May were about 86 cents over CBOT May corn CK25 futures, up 1 cent.

• For soybeans, CIF Gulf barges loaded in May were bid at 80 cents over futures - down 1 cent from Wednesday.

• Export premiums for soybeans loaded from the Gulf in May were steady, at about 91 cents over CBOT May futures.

• Empty barge freight rates continued to show signs of generally steadying, brokers said. BG/US

• Forecasts for heavy rainfall across the central U.S. this week and weekend - along with higher water levels on the Mississippi River at St. Louis - are delaying barge loadings in some areas, shipping sources said.

• The U.S. Department of Agriculture said 2024-25 U.S. corn export sales were 1 million metric tons for the week ended on April 24, down 13% from the previous four-week average. Weekly U.S. soybean export sales were 428,200 metric tons for 2024-25, up 27% from the prior four-week average.

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