CIF/FOB Gulf Grain-Soybean and corn barge bids turn lower amid export demand uncertainty

CHICAGO, Dec 5 (Reuters) - Basis bids for corn and soybeans shipped by barge to U.S. Gulf Coast terminals fell on Friday, amid continued trader uncertainty about the pace of export demand - particularly by China, market sources said.

• U.S. Treasury Secretary Scott Bessent on Wednesday said China was poised to complete its commitments under a U.S.-China trade agreement. But the U.S. continues to face serious competition from Brazil for soy export sales to China and beyond, traders said.

• Meanwhile, South America's record crop in 2025 means there are enough supplies to keep foreign sales going beyond Brazil's normal sales period, grain exports lobby Anec said. And meteorologists are calling for more timely rains in northern Argentina and southern Brazil over the next week.

• In the U.S., lower water levels along some stretches of interior rivers have reduced barged draft levels and created some transportation concerns for exporters, brokers said. BG/US

• The U.S. Department of Agriculture on Friday confirmed a "flash" sale of 462,000 metric tons of U.S. soybeans to China for delivery in the 2025/26 marketing year.

• CIF soybean barges loaded in December traded at 80 cents over Chicago Board of Trade January soybean SF25 futures, while barges loaded for January traded at 88 cents over futures.

• CIF soybean barges loaded in December were bid at 77 cents over futures, down 5 cents.

• FOB export premiums for soybeans loaded in December and January were down 1 cent, at around 102 cents over CBOT January futures.

• CIF December corn barge bids were down 9 cents, at about 79 cents over CBOT December corn CZ24 futures.

• FOB export premiums for December corn shipments were around 104 cents over futures, down 1 cent.

• Russia, the world's largest wheat exporter, has set the export duty for wheat, corn and barley at zero starting on December 10, for the first time since August, due to low global grain prices.

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