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

CHICAGO, July 16 (Reuters) - Basis bids for soybeans and corn delivered by barge to U.S. Gulf Coast terminals firmed on Wednesday, reflecting exporter needs and thinning grain movement into the Gulf due to competing demand from domestic processors, traders said.

Rising freight costs further supported Gulf barge bids. Empty barges on the Illinois River were offered at 600% of tariff on Wednesday, up from 575% a day ago, and values climbed on portions of the Mississippi and Ohio rivers as well. BG/US
CIF soybean barges loaded in July were bid at around 96 cents over Chicago Board of Trade August SQ25 futures, up 1 cent from Tuesday, and August soybean barges were bid at 98 cents over futures, up 3 cents.
FOB export premiums for soybeans shipped from the Gulf in August were offered at around 112 cents over August SQ25 futures, up 2 cents from Tuesday.
For corn, CIF barges loaded in July were bid at 90 cents over CBOT September CU25 futures and August corn barges were bid at 89 cents over futures, both up 1 cent from Tuesday.
FOB export premiums for corn shipped from the Gulf in August were steady at around 105 cents over September futures.
Under its daily reporting rules, the U.S. Department of Agriculture confirmed private sales of 120,000 metric tons of U.S. new-crop soybeans to undisclosed destinations.
Ahead of Thursday's weekly USDA export sales report, traders expected the government to report sales of U.S. old-crop corn in the week ended July 10 at 500,000 to 1,200,000 metric tons and new-crop corn sales of 400,000 to 900,000 tons. For soybeans, traders expected old-crop sales of 200,000 to 600,000 tons and new-crop sales of 150,000 to 400,000 tons.
Weekly U.S. sales of 2025/26 wheat were estimated at 300,000 to 700,000 tons.
Argentina's Rosario Grains Exchange raised its estimate of the country's 2024/25 soybean harvest to 49.5 million metric tons, compared to its previous forecast of 48.5. The exchange sees the country's 2025/26 wheat production at 20 million metric tons, down from a previous estimate of 20.7 million tons.