CIF/FOB Gulf Grain-Soybean basis bids tick higher, corn bids steady to lower

CHICAGO, Jan 14 (Reuters) - Basis bids for soybeans shipped by barge to U.S. Gulf Coast terminals firmed on Wednesday, while corn bids were steady to lower, as grain and oilseed futures recovered from a 3-month low, traders said.

• Chicago corn Cv1 and soybean Sv1 futures steadied on a technical bounce on Wednesday after sliding to their lowest since October this week, with traders weighing larger-than-anticipated U.S. supply forecasts, Chinese demand and crop prospects in South America.

• Spot basis bids for U.S. corn and soybeans were flat to higher at grain elevators and processors in the U.S. Midwest on Wednesday as farmers delayed making sales, traders said.

• But the slump in prices grabbed some export buyers booking sales, including South Korea and China. The U.S. Department of Agriculture confirmed private sales of 334,000 metric tons of U.S. soybeans to China for delivery in the 2025/26 marketing year. USDA also confirmed private sales of 136,000 tons of U.S. corn to South Korea for delivery in the 2025/26 marketing year.

• CIF bids for Gulf soybean barges loaded in January were steady at 95 cents over March soybean futures and February barges were bid a penny higher at 94 cents over March futures.

• FOB Gulf soybean offers for vessels loaded in February were up 1 cent at about 118 cents over March futures, and offers for March shipments were up 3 cents at 115 cents over futures.

• CIF Gulf January corn barges were bid steady at 86 cents over March corn futures, while February bids were down 1 cent at 89 cents over March futures.

• FOB export premiums for February corn shipments were steady at about 109 cents over March futures, dealers said, while March shipments were offered at 110 cents over 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