CIF/FOB Gulf Grain-Corn basis bids rise, USDA reports export sales

By Reuters News

CHICAGO, Oct 23 (Reuters) - Basis bids for corn shipped by barge to the US Gulf Coast jumped on Friday, traders said, after an uptick in export demand.

  • Exporters sold 116,000 metric tons of US corn to unknown destinations for 2026/27 delivery, the US Department of Agriculture said in its daily reporting system.

  • South Korea's Feed Leaders Committee (FLC) bought around 65,000 metric tons of animal feed corn in a private deal earlier this week without issuing an international tender, European traders said. Some traders expected the corn to be sourced from the US Pacific Northwest.

  • At the Gulf, CIF corn barges loaded in October were bid at 85 cents over CBOT December corn futures, up 5 cents from Thursday. November corn barges traded at 96 cents over futures.

  • FOB export premiums for Gulf corn loaded in November were steady at around 98 cents over futures.

  • CIF soybean barges loaded in October were bid at 108 cents over Chicago Board of Trade (CBOT) November soybean futures, down 1 cent from Thursday. Basis bids rose earlier this week on Chinese demand.

  • FOB export premiums for Gulf soybeans loaded in November remained at around 120 cents over futures.

For displays of CIF basis, click on the codes in brackets:

US CIF Gulf soybeans

US CIF Gulf corn

US CIF Gulf SRW wheat

US CIF Gulf HRW wheat

For displays of FOB basis, please click on the following codes in brackets:

US FOB Gulf corn

US FOB Gulf soybeans

US FOB Gulf SRW wheat

US FOB Gulf HRW wheat

LINKS

US barge freight BG/US

US export sales estimates USDA/EST

US grain export summary GRA/U

Brazil soybean export prices

Brazil corn export prices

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