CIF/FOB Gulf Grain-Soybean, corn basis inch up as Chinese demand stays quiet

CHICAGO, Feb 23 (Reuters) - Basis bids for soybeans and corn shipped by barge to U.S. Gulf Coast terminals inched up Monday, as traders watched for signs of any impact on U.S. exports from the Supreme Court's decision to strike down President Donald Trump's import tariffs.

• CIF Gulf soybean barges loaded in February and March were bid at 107 cents over Chicago Board of Trade March SH26 futures, up 1 cent from Friday.

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

• CIF corn barges loaded in February were bid at 102 cents over CBOT March CH26 corn futures, up 1 cent. March barges were steady at 100 cents over futures.

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

• Trump on Friday imposed a 10% temporary tariff after the Supreme Court struck down his previous tariff program. He ordered the start of new investigations under other statutes that officials said could result in additional tariffs affecting many trading partners.

• Trump on Monday warned countries against backing away from recently negotiated trade deals, saying that he would hit them with much higher duties under different trade laws.

• Chinese buyers were not active in buying U.S. soybeans on Monday, which was still during the Lunar New Year holiday period, traders said. The celebrations will culminate with the Lantern Festival on March 3.

• The U.S. Department of Agriculture on Monday confirmed private export sales of 125,000 metric tons of U.S. corn for shipment to Colombia in the 2025/26 marketing year.

• In addition, South Korea's Major Feedmill Group (MFG) bought about 65,000 tons of animal feed corn in a private deal on Friday expected to be sourced from the United States, European traders said.

• On Monday, USDA reported that 669,865 tons of U.S. soybeans and 2,005,050 tons of U.S. corn were inspected for export for the week ended February 19.

• Analysts had estimated weekly export inspections were 900,000 to 1.2 million tons for soybeans and 1.2 million to 1.9 million tons for corn.

• A powerful winter storm spread a paralyzing mix of heavy snow, sleet and freezing rain from the Ohio Valley and mid-South to New England on Sunday, snarling transportation routes and causing 296,000 homes and businesses to lose power.

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