CIF/FOB Gulf Grain-Corn, soy basis flat-lower on easing barge freight, higher futures

CHICAGO, March 5 (Reuters) - Basis bids for corn and soybeans shipped by barge to U.S. Gulf Coast terminals were flat to weaker on Thursday on higher futures prices and easing river freight costs, traders said.

• Farmer sales of corn and soybeans to barge-loading river elevators have increased this week as futures prices neared multi-month highs.

• Chicago Board of Trade corn futures Cv1 scaled to the highest point since May 2025 on Thursday. Soybeans Sv1 hovered near Monday's high, which was the loftiest since June 2024.

• Widespread rain across the central United States helped to boost river levels after low water earlier this year slowed shipping in Midwest waterways. Barge freight rates declined as shipping logistics improved. BG/US

• Soybean export demand was slow as rising supplies from Brazil's record crop kept prices there at a steep discount to near term U.S. shipments.

• U.S. soybean export sales last week fell to the second-lowest level of the current season, with net sales totaling 383,492 metric tons, according to U.S. Department of Agriculture data.

• Corn export sales remained strong last week at nearly 2.2 million tons for the current and next marketing year, USDA data showed. The sales were the largest in six weeks and were above trade expectations.

• CIF Gulf soybean barges loaded in March traded 2 cents lower at 80 cents over Chicago Board of Trade May SK26 soybean futures. April barges were bid steady at 86 cents over futures.

• FOB export premiums for soybeans loaded from the Gulf in March dipped by 2 cents to 115 cents over May futures.

• CIF Gulf corn barges loaded in March were bid a penny lower at 84 cents over CBOT May CK26 futures. April bids were down flat at 83 cents over futures.

• FOB corn export premiums for March corn loadings were down 2 cents at around 105 cents over May CK26 futures.