REFILE-CIF/FOB Gulf Grain-Soy basis bids rise, traders watch for China demand

CHICAGO, Feb 20 (Reuters) - Basis bids crept higher for soybeans shipped by barge to U.S. Gulf Coast terminals on Friday as traders waited to see whether top importer China would return to the market.

• China did not show interest in buying U.S. soybeans this week during the Lunar New Year holiday, traders said.

• The world's top soybean importer may now be less likely to make more large American purchases after the Supreme Court on Friday struck down U.S. President Donald Trump's sweeping tariffs, analysts said.

• Trump said on February 4 that China was considering purchasing additional U.S. supplies. However, prices are more attractive for Brazilian soybeans, traders said.

• U.S. soybean export sales for 2025/26 were 798,216 metric tons in the week that ended on February 12, down 20% from the prior four-week average, according to U.S. Department of Agriculture data. Of that total, 415,507 metric tons were sold to China.

• CIF Gulf soybean barges loaded in February and March were bid at 106 cents over Chicago Board of Trade March SH26 futures, up 2 cents from Thursday.

• FOB premiums for February and March soybean export loadings were steady at around 130 cents over March futures.

• For corn, weekly U.S. export sales totaled 1,469,500 metric tons for 2025/26, down 33% from the prior four-week average, according to USDA.

• U.S. corn shipments from the Gulf look competitively priced compared to South American supplies, a trader said.

• CIF corn barges loaded in February were bid at 101 cents over CBOT March CH26 corn futures, down 2 cents. March barges were 100 cents over futures, down 1 cent.

• FOB corn export premiums for February were around 127 cents over March futures, while March offers were around 125 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