CIF/FOB Gulf Grain-Corn barge basis steady-higher after futures post fresh lows

CHICAGO, June 26 (Reuters) - Basis bids for corn shipped by barge to the U.S. Gulf Coast for export were steady to higher on Thursday as a futures price plunge this week halted farmer sales and deprived exporters of fresh supplies, traders said.

• Solid demand for corn from both export and domestic markets has kept a floor under cash market prices, traders said.

• The U.S. Department of Agriculture reported total corn export sales last week at about 1.05 million metric tons, the 13th time in 15 weeks that sales have topped 1 million tons. Season-to-date sales of old-crop corn are nearly 27% ahead of the same time last year, according to USDA data. EXP/CORN

• CIF corn barges loaded in June were bid a penny higher at 69 cents over Chicago Board of Trade July corn futures CN25 while July barge bids of 69 cents over futures were also up 1 cent.

• FOB export premiums for corn shipped from the Gulf in July were up 2 cents at 77 cents over July futures. August shipments were offered steady at 85 cents over July futures.

• CIF Gulf soybean basis bids were narrowly mixed on slow movement of supplies from farms to river elevators and as export demand was seasonally slow, traders said.

• The USDA reported total weekly soybean export sales last week at 559,084 metric tons, in line with trade estimates. EXP/SOY

• CIF soybean barge bids for June loadings were 2 cents higher at 65 cents over CBOT July futures SN25. July barge bids held steady at 73 cents over futures.

• FOB export premiums for soybeans loaded in July were up 2 cents at around 76 cents over July futures, tracking gains in CIF values. August premiums were steady at 85 cents over futures.

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