CIF/FOB Gulf Grain-Corn, soybean basis jump as ice build-up, cold weather slows river barge traffic

CHICAGO, Jan 26 (Reuters) - Basis bids for soybeans and corn shipped by barge to U.S. Gulf Coast export terminals turned higher on Monday, as harsh winter weather slowed grain movement and impeded navigation on Midwest rivers, traders said.

• Spot barge freight rates firmed by up to 25 points of tariff on Monday, barge brokers said, as snow and ice buildup on the Illinois River slowed barge movement and low water on the Mississippi River prompted barge loading limits. That, in turn, has helped boost the per-bushel cost of hauling grain. BG/US

• Temperatures across much of the country plunged over the weekend. The bitter cold hampered barge cleaning and loading operations at river elevators, and brought river traffic to a halt in many locations, barge sources said.

• The U.S. Department of Agriculture reported that 1,510,167 metric tons of U.S. corn and 1,324,408 metric tons of U.S. soybeans were inspected for export for the week ended January 22. Both were within trade expectations.

• Brazil's 2025/26 soybean crop is expected to reach 181 million metric tons, agribusiness consultancy AgRural said on Monday, raising its forecast from a previous 180.4 million tons while also lifting its corn output estimate.

• CIF basis bids for soybean barges loaded in January traded at 120 cents over Chicago Board of Trade March soybean SH26 futures.

• Meanwhile CIF basis bids for soybean barges loaded in January were up 11 cents at 120 cents over March soybean futures. February barge basis bids were up 2 cents at 106 cents over futures.

• FOB Gulf soybean offers for vessels loaded in February firmed 3 cents at 121 cents over March futures, while offers for March shipments jumped up 15 cents at about 130 cents over futures.

• CIF Gulf January corn barges were bid steady at 97 cents over CBOT March CH26 futures. February barges were also steady, bid at 96 cents over March futures.

• FOB export premiums for February corn shipments were 4 cents higher at 112 cents over March futures, while March offers were up 12 cents at 120 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