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

CHICAGO, June 20 (Reuters) - Basis bids for soybeans and corn delivered by barge to U.S. Gulf Coast terminals were steady to slightly higher on Friday, traders said.

• Meteorologists are forecasting extreme heat patterns across parts of the central U.S. this weekend, though June weather has been mostly supportive for crop development.

• Spot cash corn basis bids rose at some grain elevators and processing plants in the U.S. Midwest on Friday as farmer selling was quiet, merchants said.

• Exporters sold 124,000 metric tons of U.S. corn to unknown destinations for 2025-26 delivery, the U.S. Department of Agriculture said on Friday.

• USDA reported weekly U.S. corn export sales were 903,800 metric tons for 2024-25, compared with analysts' estimates for 600,000 to 1.2 million metric tons.

• USDA also reported weekly U.S. soybean export sales were 539,500 metric tons for 2024-25, exceeding analysts' expectations.

• CIF soybean barges loaded in June had no bids, but were offered at 67 cents over Chicago Board of Trade July SN25 soybean futures - up 1 cent from Wednesday. July barge loadings were bid at 73 cents over July futures, up 3 cents.

• FOB export premiums for soybeans loaded from the Gulf in June were offered at about 78 cents over July futures, down 1 cent. Premiums for July shipments were offered at 74 cents over futures.

• For corn, CIF barges loaded in June were bid at 67 cents over CBOT July corn futures CN25, up 1 cent from Wednesday. July barge loadings were steady, bid at 67 cents over futures.

• FOB export premiums for corn shipped from the Gulf in June were offered at about 81 cents over CBOT July corn futures, up 1 cent. Premiums for July shipments were also up 1 cent, at about 75 cents over futures.

• Russia, the world's largest wheat exporter, and Bahrain plan to set up a wheat trading hub in the Persian Gulf, Russian President Vladimir Putin said on Friday.

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