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

CHICAGO, Feb 24 (Reuters) - Basis bids for soybeans and corn shipped by barge to U.S. Gulf Coast terminals firmed on Tuesday, as freight rates remained elevated and barge supplies tight along parts of the Mississippi River, traders said.

• CIF Gulf soybean barges loaded in February and March were bid at 110 cents over Chicago Board of Trade March SH26 futures, up 3 cents from Monday.

• 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 109 cents over CBOT March CH26 corn futures, up 7 cents. March barges were up 6 cents at 106 cents over futures. March loadings split-traded at 106 cents over March corn futures.

• FOB corn export premiums for February were around 126 cents over March futures, down 1 cent, while March offers were steady around 125 cents over futures.

• Towing and draft restrictions on the Lower Mississippi and Ohio River have been lifted, barge sources said. BG/US

• Chicago Board of Trade soybean futures Sv1 rose to hover near a three-month high on Tuesday on hopes of China returning to the U.S. market, as concerns temporarily eased about upheaval in U.S. tariff policy hurting potential sales to the world's top soybean importer.

• Soybean traders were watching to see how China reacted after the U.S. Supreme Court on Friday struck down President Donald Trump's global reciprocal tariffs. Trump then announced a new general rate of 10% that he later said would rise to 15%.

• China is closely monitoring U.S. policies and will decide "in due course" whether to adjust countermeasures to U.S. tariffs, a Chinese commerce ministry official said. China is willing to hold frank consultations during an upcoming sixth round of U.S.-China economic and trade talks, the official added.

• Brazilian Indigenous protesters who invaded a Cargill port facility in the northern town of Santarem plan to leave the site within about 48 hours, Indigenous leader Alessandra Munduruku told Reuters on Tuesday.

• The group has been occupying the Cargill facility since the weekend, after weeks of blocking the port's entrance and disrupting truck traffic at a crucial time for the farming sector as the country reaps another bumper soybean crop.

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