CIF/FOB Gulf Grain-Soybean, corn barge basis bids steady to lower

CHICAGO, June 13 (Reuters) - Basis bids for soybeans and corn delivered by barge to U.S. Gulf Coast terminals were steady to lower on Friday, as oilseed futures jumped on biofuel news, traders said.

• At the Gulf, July soybean barge loadings traded at 73 cents over July soybean futures, and August loadings traded for 78 cents over August SQ25 soybean futures, market sources said.

• Chicago Board of Trade soybean futures hit a three-week top on Friday and soyoil futures surged to their 3-cent daily limit after the Trump administration proposed biofuel blending requirements for 2026 and 2027 that were above trade expectations, analysts said.

• Meanwhile, Archer-Daniels-Midland, a major U.S. soybean crusher and biofuel producer, had slashed its bids to buy the oilseed this week ahead of the Trump administration announcement on biofuel blending requirements, a primary driver of demand for soybean oil.

• Spot soybean basis bids were mostly flat to lower at U.S. Midwest processors and river terminals on Friday.

• Weather forecaster Commodity Weather Group predicted "monsoonal showers" would hinder the wheat harvest in the U.S. Central Plains in the next 16-30 days.

• CIF soybean barges loaded in June had no bids, but were offered at 70 cents over Chicago Board of Trade July SN25 soybean futures. July barge loadings were bid at 71 cents over July futures, down 2 cents from Thursday.

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

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

• FOB export premiums for corn shipped from the Gulf in June were offered at about 81 cents over CBOT July corn futures, steady from Thursday.

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