CIF/FOB Gulf Grain-Corn, soy barge bids edge higher

CHICAGO, April 7 (Reuters) - Spot basis bids for corn and soybeans shipped by barge to U.S. Gulf Coast terminals crept higher on Tuesday as traders awaited developments in the Iran war and the release of U.S. crop data.

• U.S. President Donald Trump warned Iran that "a whole civilization will die tonight" if Tehran refuses to reopen the critical Strait of Hormuz shipping lane by his evening deadline.

• Soybean futures Sv1 are down 1% since before the war began on February 28, while corn futures Cv1 are nearly unchanged.

• Farmers have largely stopped selling crops as they wait for higher prices and focus on the spring planting season, traders said.

• Export demand for U.S. corn has been strong but could weaken because fresh supplies from Argentina and Brazil will increasingly become available on the global market, a trader said.

• Brazil exported 983,029 metric tons of corn in March, up from 871,297 metric tons a year earlier, and 14.52 million metric tons of soybeans, down from 14.66 million metric tons a year ago, its government said.

• The European Union as of April 5 imported a total of 13.58 million metric tons of corn for the 2025/26 season that began in July, down about 18% from a year earlier, the European Commission said.

• The bloc's 2025/26 soybean imports were 9.74 million metric tons by April 5, down 9% from the same period a year earlier, data showed.

• Traders will watch to see whether the U.S. Department of Agriculture adjusts U.S. export and carryout estimates in a monthly supply/demand report on Thursday.

• U.S. soybean and corn futures retreated on reminders of ample supplies on Tuesday, brokers said.

• CIF Gulf corn barges loaded in April were bid 1 cent higher at 86 cents over Chicago Board of Trade May CK26 futures.

• FOB corn offers for vessels loaded in April were flat at 98 cents over futures.

• CIF Gulf soybean barges loaded in April were bid 2 cents higher at 77 cents over CBOT May SK26 soybean futures.

• FOB export premiums for April soybean vessels remained unchanged at about 92 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