CIF/FOB Gulf Grain-Corn barge bids inch higher; soy mixed as futures slide, farmer sales slow

CHICAGO, July 8 (Reuters) - Basis bids for corn delivered to U.S. Gulf Coast terminals edged higher, traders said on Tuesday, while soybean barge bids were narrowly mixed, as Chicago Board of Trade futures declined for a second session, curbing farmer grain sales.

• CBOT corn futures extended losses to approach a 2025 low as improved U.S. crop ratings and forecasts for more benign weather fueled expectations for a bumper harvest. GRA/

• Soybean futures also eased toward a multi-month low on non-threatening U.S. crop conditions.

• At the Gulf on Tuesday, CIF corn barges loaded in July were bid at 88 cents over Chicago Board of Trade September CU25 futures, up a penny from previous session. August corn barges were bid at 87 cents over futures, up 1 cent.

• FOB export premiums for corn shipped from the Gulf in August held steady at 94 cents over September futures.

• For soybeans, CIF July barges were bid at 86 cents over CBOT August SQ25 futures, down 1 cent from Monday. August soy barges were bid at 88 cents over August futures, up 1 cent.

• FOB export premiums for soybeans shipped from the Gulf in August were unchanged at around 85 cents over August SQ25 futures.

• The U.S. Department of Agriculture confirmed private sales of 144,000 metric tons of U.S. soymeal to the Philippines, including 97,000 tons for delivery in the 2024/25 marketing year that began October 1, 2024, and the remaining 47,000 tons for 2025/26.

• The USDA also confirmed private sales of 112,776 tons of U.S. new-crop corn to Mexico.

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