CIF/FOB Gulf Grain-Soybean, corn barge bids steady-firm ahead of US-China summit

CHICAGO, May 11 (Reuters) - Spot basis bids for soybeans and corn shipped by barge to U.S. Gulf Coast terminals were mostly steady to higher on Monday, as traders anticipated an increase in crop purchases around this week's summit between the United States and China.

• U.S. President Donald Trump is scheduled to arrive in Beijing on Wednesday, ahead of talks set to take place Thursday and Friday. China is expected to announce purchases of U.S. goods, including agricultural products, according to U.S. officials.

• CIF soybean barges loaded in May were bid at 78 cents over Chicago Board of Trade July SN26 futures, unchanged from late Friday. June barges were bid 2 cents higher at 85 cents over futures. New-crop soybean basis bids were 2 to 5 cents higher.

• FOB export premiums for Gulf soybean vessels loaded in June held steady at around 99 cents over July SN26 soybean futures.

• For corn, CIF barges loaded in May were bid steady at 78 cents over CBOT July CN26 futures. June bids were a penny higher at 84 cents over futures.

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

• On Monday, the U.S. Department of Agriculture said 1,690,626 metric tons of U.S. corn and 655,294 tons of soybeans were inspected for export in the week ending May 7.

• On Tuesday, USDA supply/demand data is expected to show 2026-27 U.S. ending stocks at 1.933 billion bushels for corn and 364 million bushels for soybeans, according to a Reuters poll of analysts.

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