CIF/FOB Gulf Grain-Corn, soybean barge bids stay mostly steady

CHICAGO, May 27 (Reuters) - Basis bids for corn and soybeans delivered by barge to U.S. Gulf Coast terminals were largely steady on Tuesday, traders said.

• Traders monitored U.S. trade policy after President Donald Trump over the weekend backed away from a threat to impose 50% tariffs on imports from the European Union next month.

• The dollar strengthened, which makes U.S. farm products look less attractive to importers.

• U.S. grain markets reopened after closing on Monday for Memorial Day.

• CIF corn barges loaded in May were bid at 69 cents over Chicago Board of Trade (CBOT) July corn CN25 futures, while June corn barges were bid at 68 cents over futures. Both were flat from Friday.

• FOB export premiums for corn shipped from the Gulf in June were about 78 cents over CBOT July corn futures, down 2 cents.

• For soybeans, CIF barges loaded in May were bid at 63 cents over CBOT July SN25 soybean futures, up 1 cent from Friday. June soy barges were bid at 67 cents over futures, which was unchanged.

• FOB export premiums for soybeans loaded from the Gulf in June were nominally offered around 78 cents over July futures. Traders have said that suppliers had little available until late August.

• U.S. soybean export inspections were 194,904 metric tons in the week that ended on May 22, the U.S. Department of Agriculture said. That was toward the low end of analysts' estimates for 175,000 to 550,000 metric tons.

• Global demand for soybeans from Brazil, the world's top exporter of the oilseed, is expected to limit U.S. soy export inspections through summer, a broker said.

• Brazilian soy exports are set to reach 14.03 million metric tons in May, compared to a previous estimate for 14.52 million, Brazilian grain exporters association Anec said.

• Agribusiness consultancy Datagro increased its forecasts for Brazil's 2024/25 soybean and corn crops on Monday.

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