Soybean, corn barge basis bids steady, export premiums firm

Basis bids for corn and soybeans shipped by barge to U.S. Gulf Coast terminals were steady and export premiums firmed on Monday, as low water levels on stretches of the Ohio and Mississippi rivers kept barge prices higher, traders said.

• CIF Gulf soybean barges loaded in October were steady at 62 cents over CBOT November (SX25) futures, but with no offers. November barges were bid at 73 cents over futures, and offered at 77 cents over futures, traders said.

• FOB export premiums for October-loaded soybeans were up 1 cent at about 71 cents over futures.

• CIF basis bids for October corn barges were also steady at 82 cents over Chicago Board of Trade December (CZ25) futures, with no offers. November barge loadings were bid at 82 cents over December futures, and offered at 85 cents over futures, traders said.

• FOB export premiums for October corn shipments ticked up 1 cent at about 96 cents over futures.

• Low water levels on interior rivers continue to create delays and are adding additional shipping costs for grain elevators and exporters, market analysts said.

• River gauge readings on the Ohio River at Cairo, Illinois, and on the Mississippi River at New Madrid, Missouri, are below their low threshold, according to the latest information from the National Oceanic and Atmospheric Administration's National Water Prediction Service data.

• The same is forecast to happen at Memphis by Friday, according to NOAA.

• The data is being updated while the U.S. government is shut down, a notice on NOAA's river gauge tracking website stated.

• Chicago commodity grain and oilseed futures trading was cautious on Monday, as the market await an update on Tuesday on U.S. government aid to soy farmers hurt by the trade war with China and an upcoming meeting between U.S. President Donald Trump and China's Xi Jinping at the end of the month.

• Brazil may not be able to raise the mandatory biodiesel mix in diesel to 16% from 15% within a government-set deadline of March 2026, an official from the Brazilian Ministry of Mines and Energy said on Monday.

• Ukraine has approved new documentation to accompany exports of rapeseed and soybeans that are exempt from a new duty, the government's website said, after confusion about the levy halted shipments of oilseeds for the past month.

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:

U.S. barge freight

U.S. export sales estimates

U.S. grain export summary

Brazil soybean export prices (SYBS)

Brazil corn export prices (SYBX)

Argentina grain prices (GRA/ARG)

Russia grain prices (GRA/RU)