CIF/FOB Gulf Grain-Corn basis bids steady-higher, soybeans steady-lower

CHICAGO, Sept 22 (Reuters) - Basis bids for corn shipped by barge to U.S. Gulf Coast export terminals were steady to higher on Monday, traders said, as higher barge freight rates kept a floor under crop basis levels.

• Soybean basis bids were steady in the spot market, but steady to lower for later months.

• Firm barge freight costs due to low water on the Mississippi River limited basis declines in corn. Shippers have restricted barge drafts and tow sizes, limiting the amount of grain per barge and raising per-bushel freight costs.

• Exporters sold 320,068 metric tons of U.S. corn to Mexico for 2025/2026 delivery, the U.S. Department of Agriculture said on Monday via its daily reporting system.

• Chicago Board of Trade soybean futures fell to a six-week low on Monday, as Argentina's government temporarily eliminated export taxes on grains, soy and their by-products, and no signs of progress on negotiations between Washington and Beijing over agricultural exports.

• CIF Gulf soybean barges loaded in September were steady, bid at 60 cents over Chicago Board of Trade November SX25 futures.

• FOB export premiums for soybeans shipped from the Gulf in October were flat at about 70 cents over November futures.

• CIF September corn barges were bid up 2 cents higher, at 77 cents over CBOT December CZ25 futures.

• FOB export premiums for October corn shipments were steady at 99 cents over December futures.