CIF/FOB Gulf Grain-Lackluster demand hangs over Gulf soy barge bids

CHICAGO, July 25 (Reuters) - Basis bids for soybeans delivered by barge to U.S. Gulf Coast terminals remained under pressure on Friday amid lackluster export demand, traders said.

• Mexico bought 142,500 metric tons of U.S. soybeans for delivery in the 2025-26 marketing year, the U.S. Department of Agriculture said via its daily reporting system.

• Demand was still weak due to competition for global sales from Brazil, the world's biggest soy exporter, traders said.

• "This is a slow period of time in the year for U.S. soybean exports traditionally," said Bill Lapp, president of consultancy Advanced Economic Solutions. "This is the time to shine for South America."

• Traders are watching for updates on Washington's trade dispute with China, the world's biggest soybean buyer.

• A Chinese buyer this week signed a deal to import 30,000 metric tons of Argentine soymeal, as animal feed producers take advantage of softer prices in South America, sources said.

• China has said it will cut the number of breeding sows, and promote the reduction and substitution of soybean meal fed to livestock.

• CIF Gulf soybean barges loaded in July traded at 100 cents over Chicago Board of Trade August SQ25 futures, after trading at 103 cents over futures a week ago.

• FOB export premiums for soybeans shipped from the Gulf in August were flat at about 112 cents over August SQ25 futures. Premiums eased for autumn and winter shipments.

• For corn, CIF Gulf barges loaded in July were bid at 90 cents over CBOT September CU25 futures, down 2 cents. August corn barges were bid at 92 cents over futures, which was flat.

• FOB export premiums for corn shipped from the Gulf in August were steady at 105 cents over September futures.

• Mexico bought 102,870 metric tons of U.S. corn and South Korea bought 140,000 metric tons of U.S. corn, all for 2025-26 delivery, USDA said.

• Some farmers are starting corn harvesting this weekend in Louisiana and may fulfill some Gulf barge demand next week, StoneX said in a note. This pressured corn Gulf CIF bids, the firm said.

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