CIF/FOB Gulf Grain-Soybean spot basis firmed in the spot market; corn steady

CHICAGO, Sept 25 (Reuters) - Basis bids for soybeans shipped by barge to U.S. Gulf Coast export terminals firmed in the spot market on Thursday, and corn basis bids were generally steady, as brokers closely tracked the pace of the U.S. harvest, traders said.

• CIF Gulf soybean barges loaded in September were 5 cents higher, bid at 63 cents over Chicago Board of Trade November SX25 futures.

• FOB export premiums for soybeans shipped from the Gulf in October ticked up 1 cent to about 71 cents over November futures.

• CIF September corn barges were flat at 78 cents over CBOT December CZ25 futures.

• FOB export premiums for October corn shipments were offered up 1 cent, at 100 cents over December futures.

• Low water levels on interior rivers have created some delays in barge traffic, and warmer and drier weather forecasts could create more issues, market sources said. BG/US

• Argentina's declared soy exports for the 2024/25 season hit a seven-year high after a brief pause in export taxes triggered a trading frenzy, which should continue to boost the market as many exporters declared sales before buying the goods.

• The purchases are chipping away at U.S. market share as its farmers begin harvesting a bumper crop shunned by China amid a trade war between the world's two largest economies.

• Sources told Reuters that India had during the tax pause bought 300,000 metric tons of Argentine soyoil, its largest ever purchase in a two-day period. These are expected to be shipped in October to March.

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