CIF/FOB Gulf Grain-Soybean barge bids mostly steady, corn bids ease

CHICAGO, June 5 (Reuters) - Basis bids for soybeans delivered by barge to U.S. Gulf Coast terminals were mostly steady on Thursday, while corn bids were slightly lower, traders said.

• U.S. President Donald Trump and Chinese leader Xi Jinping held a rare leader-to-leader call to iron out trade disputes between the world's two largest economies, and have agreed to more talks.

• Argentina's soybean yields continue to track higher than expected this season, the Rosario grains exchange said on Thursday, signaling that the process of harvesting the key agricultural export is however progressing slower than usual.

• CIF soybean barges loaded in June were bid at 68 cents over Chicago Board of Trade July SN25 futures, down one cent from Tuesday. June loadings traded at 71 cents over July futures.

• FOB export premiums for soybeans loaded from the Gulf in June were offered at about 78 cents over July futures, which were unchanged.

• For corn, CIF barges loaded in June were bid at 65 cents over CBOT July corn futures CN25, down 1 cent. June loadings traded at 65 cents over July futures.

• FOB export premiums for corn shipped from the Gulf in June were up 3 cents at about 81 cents over CBOT July corn futures. Premiums also rose for shipments later in the year.

• South Korea's Korea Corn Processing Industry Association (KOCOPIA) bought about 60,000 metric tons of corn expected to be sourced from the U.S. Pacific Northwest coast in a tender, European traders said.

• The U.S. Department of Agriculture on Thursday reported weekly U.S. export sales of 942,300 metric tons of corn for 2024-25 and 160,100 metric tons for 2025-26. Analysts expected 775,000 to 1.4 million metric tons for 2024-25 and 20,000 to 250,000 metric tons for 2025-26.

• USDA also reported that weekly U.S. soybean export sales were 194,300 metric tons for 2024-25 and 3,500 metric tons for 2025-26. Analysts expected 100,000 to 500,000 metric tons for 2024-25 and zero to 100,000 metric tons for 2025-26.

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