CIF/FOB Gulf Grain-Soybean, corn barge basis bids tick higher

CHICAGO, Feb 4 (Reuters) - Basis bids for soybeans and corn shipped by barge to U.S. Gulf Coast export terminals firmed on Wednesday, as the potential of new Chinese soybean demand sent U.S. soy futures surging and farmers scrambling to sell stored crops, traders said.

• Warmer weather is expected this weekend, which may help ease navigation delays that have clogged the Illinois River, barge sources said.

• Still, barge freight rates remain elevated due to the weather-related delays. BG/US

• China is considering buying more U.S.-farmed soybeans, President Donald Trump said after what he called "very positive" talks with President Xi Jinping on Wednesday, even as Beijing warned Washington about arms sales to Taiwan.

• In a goodwill gesture two months before Trump's expected visit to Beijing, Trump said Xi would consider hiking soybean purchases from the United States to 20 million metric tons in the current season, up from 12 million tons previously.

• U.S. soybean futures Sv1 rallied sharply.

• The U.S. Department of Agriculture confirmed private sales of 130,480 tons of U.S. corn for shipment to unknown destinations in the current 2025/26 marketing year.

• Soybean barges loaded in the Gulf in February were up 1 cent at 111 cents over Chicago Board of Trade March soybean SH26 futures, while March loadings were bid at 106 cents over March futures.

• FOB Gulf soybean offers for vessels loaded in February were up 1 cent at about 126 cents over March futures, while offers for March shipments were steady at about 130 cents over futures.

• CIF Gulf February corn barge loadings were bid up 1 cent at 109 cents over March CH26 corn futures; March loadings were bid at 99 cents over futures.

• FOB export premiums for February corn shipments were up 4 cents at 121 cents over March futures, while March offers were unchanged at about 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