CIF/FOB Gulf Grain-Corn, soybean basis bids ease; export premiums rise

Basis bids for corn and soybeans shipped by barge to U.S. Gulf Coast terminals eased on Friday, as export premiums turned sharply higher amid a spate of volatility in that market, traders said.

• Demand fundamentals in the spot river barge market have been somewhat bearish for export premiums, amid ongoing concerns about Chinese demand, particularly for U.S. soybeans, trade sources said.

• But export premiums are looking more bullish in recent days, as market participants prepare for the fall U.S. harvest and hedge against the potential of a U.S.-China trade deal, according to trade sources.

• Meanwhile, the slump in U.S. corn prices has been luring some buyers away from South American suppliers, which is giving a boost to export premiums, trade sources said.

• Exporters sold 125,000 metric tons of U.S. corn to unknown destinations for 2025/2026 delivery, the U.S. Department of Agriculture said.

• The Mississippi River has reopened to vessel traffic north of St. Louis after closing because a helicopter crashed into a barge on Thursday, killing two people, the U.S. Coast Guard said on Friday.

• CIF Gulf soybean barges loaded in August were bid at 58 cents over Chicago Board of Trade November soybean futures SX25, down 3 cents from Thursday.

• FOB export premiums for soybeans shipped from the Gulf in the first-half of September were up 8 cents, at about 103 cents over November futures. Loadings for last-half September were up 7 cents, at 100 cents over November futures.

• For corn, CIF Gulf barges loaded in August were bid at 81 cents over Chicago Board of Trade September CU25 futures, down a penny from Thursday.

• FOB export premiums for corn shipped from the Gulf in September rose 6 cents to about 126 cents over September 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