CIF/FOB Gulf Grain-Corn, soy basis bids steady to lower as big US harvest looms

CHICAGO, Aug 5 (Reuters) - Basis bids for corn and soybeans shipped by barge to U.S. Gulf Coast terminals were steady to lower on Tuesday, as cash grain prices continue to face pressure and farmer selling remains intermittent, traders said.

• Chicago Board of Trade corn futures continued to sink on seasonal supply pressure and the expectation of a massive U.S. crop this fall, while soybeans saw a choppy trading session on support from larger-than-expected weekly U.S. export inspections, traders said. GRA/

• Trading FOB export premiums are showing signs of being bullish, particularly for deferred months, as some market participants position ahead of a potential U.S.-China trade deal, two traders said.

• The U.S. Department of Agriculture confirmed private sales totaling 128,000 metric tons of U.S. corn for shipment to undisclosed destinations in the 2025/26 marketing year. Meanwhile, South Korea's Major Feedmill Group (MFG) purchased around 65,000 metric tons of U.S. feed wheat in a private deal.

• CIF Gulf corn barges loaded in July were bid a penny higher at 83 cents over Chicago Board of Trade September CU25 futures. August corn barge bids were up 1 cent at 83 cents over September futures.

• FOB export premiums for corn shipped from the Gulf in September were 4 cents higher at about 118 cents over September futures. October offers were up 5 cents at 102 cents over December futures CZ25.

• CIF Gulf soybean barge bids for July loadings were steady at 83 cents over August futures SQ25, while August bids were at 61 cents at September soybean futures SX25.

• FOB export premiums for soybeans shipped from the Gulf in the first-half of September were up 1 cent at 95 cents over November soybean futures SX25; loadings for last-half September were 93 cents over November 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