CIF/FOB Gulf Grain-Soybean basis bids slip as empty barge freight rates stay high

CHICAGO, Dec 11 (Reuters) - Basis bids for soybeans shipped by barge to U.S. Gulf Coast terminals turned lower on Thursday, as freight rates remained elevated and trade was light, traders said.

• There were no spot basis bids quoted for corn shipped by barge to the Gulf in December, but deferred-month bids were mixed, market sources said.

• Empty barge freight rates continued to remain elevated along interior river locations. BG/US

• Spot cash basis bids for corn and soybeans were mixed at elevators, processors and river terminals in the U.S. Midwest in a week of light trade, dealers reported.

• U.S. corn Cv1 futures firmed, supported by brisk export sales and a softer dollar, which tends to make U.S. grains more competitive globally, while soybean Sv1 futures clung to modest gains late in the trading session, analysts said.

• U.S. Department of Agriculture confirmed private export sales of 490,000 metric tons of U.S. soybeans, including 264,000 tons to Chicago and 226,000 tons to unknown destinations - all for delivery in the 2025/26 marketing year.

• USDA also confirmed sales of 186,000 tons of corn to unknown destinations for delivery in the 2025/26 marketing year.

• Brazilian crop agency Conab lowered the country's 2025/26 soybean production forecast by around 550,000 metric tons on Thursday to 177.12 million tons, still a record if the projection is confirmed.

• CIF bids for soybean barges loaded in December were bid at 77 cents over Chicago Board of Trade January soybean SF26 futures, sliding sharply late in the day, while CIF offers rose 9 cents to 87 cents over January futures.

• FOB export premiums for soybeans loaded in December were steady at 104 cents over CBOT January soybean futures, while January export premiums were up 1 cent at around 105 cents over January futures.

• While there were no bids for CIF December corn barge bids, CIF January corn barge bids were 82 cents over CBOT March corn CH26 futures.

• FOB export premiums for December corn shipments were down 1 cent, at around 105 cents over December CZ25 corn futures. January export premiums were at about 96 cents over March 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