CIF/FOB Gulf Grain-Corn, soybean barge bids ease as river levels crest, farmer grain sales slow

CHICAGO, May 4 (Reuters) - Spot basis bids for soybeans and corn shipped by barge to U.S. Gulf Coast terminals eased lower on Monday, as freight rates for empty barges steadied, river levels crested in some areas and Midwest farmer grain sales slowed, traders said.

• The U.S. Department of Agriculture reported export inspections of U.S. corn in the week ended April 27 at 2,027,942 metric tons, above trade expectations for 1,290,000 to 1,700,000 tons. USDA/I

• But news of smaller-than-hoped weekly soybean inspections weighed on CIF prices for Gulf loadings of beans, one broker said.

• USDA on Monday reported weekly soybean inspections at 450,145 tons, at the bottom of trade expectations for 450,000 to 700,000 tons.

• At the Gulf, CIF soybean barges loaded in May were bid at 79 cents over Chicago Board of Trade July SN26 futures, down 1 cent from Friday. June loadings were bid at 81 cents over July futures.

• FOB export premiums for Gulf soybean vessels loaded in June held steady at around 97 cents over July SN26 soybean futures, up 1 cent. Loadings for May had export premiums offered at 107 cents over May SK26 futures.

• For corn, CIF barges loaded in May were bid at 82 cents over CBOT July CN26 corn futures, about a penny lower than Friday. June loadings were bid at 85 cents over July futures.

• FOB export premiums for Gulf corn vessels loaded in June were unchanged at around 104 cents over July CN26 futures, up 1 cent.

• Basis bids for soybeans and corn were steady to firmer in the U.S. Midwest on Monday while Chicago Board of Trade futures climbed, spot checks showed.

• Strong soybean crush margins, topping $3 per bushel in some cases, continue to underpin soybean basis bids as processors worked to maintain incoming supplies from farmers.

• Brazil's soybean production is expected to reach 181.6 million metric tons in 2025/26, consultancy firm StoneX said on Monday, raising its outlook by around 1% from an April projection.

• The country's total corn crop was estimated at 137 million tons in 2025/26, up from a previous forecast of 135.7 million tons, StoneX said.

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