CIF/FOB Gulf Grain-Corn barge basis steady-firm on solid export demand

CHICAGO, March 30 (Reuters) - Spot basis bids for corn and soybeans shipped by barge to U.S. Gulf Coast terminals were mostly steady to firm on Monday, underpinned by moderate exporter demand and slow grain sales by farmers, traders said.

• Corn sales to river elevators have slowed with a recent drop in prices, although demand from exporters remained brisk. Chicago Board of Trade corn Cv1 futures fell to a 1-1/2 week low on Monday while soybeans Sv1 firmed, ahead of a U.S. Department of Agriculture plantings report on Tuesday.

• The USDA reported 145,000 tons in new corn export sales to undisclosed buyers on Monday.

• The USDA said 1,789,524 metric tons of U.S. corn were inspected for export in the week ended March 26, above trade estimates for up to 1,650,000 tons.

• Soybean inspections totaled 586,427 tons, below trade estimates for at least 600,000 tons, USDA data showed.

• U.S. soybean export demand was seasonally slow as Brazilian supplies are available at lower prices. Traders are looking ahead to a mid-May U.S.-China summit that could spark Chinese government purchases of U.S. crops.

• Brazilian farmers had harvested 75% of their 2025/26 soybean crop as of last Thursday, agribusiness consultancy AgRural said on Monday.

• CIF Gulf corn barges loaded in March were bid a penny higher at 88 cents over CBOT May CK26 futures. April barge bids were up 3 cents at 88 cents over futures.

• FOB corn offers for vessels loaded in April were unchanged around 96 cents over futures.

• CIF Gulf soybean barges loaded in March were bid 1 cent higher at 72 cents over CBOT May SK26 soybean futures. April barges were bid steady at 74 cents over futures.

• FOB export premiums for April soybean vessels were unchanged at around 92 cents over futures.