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