Spot basis bids for corn shipped by barge to U.S. Gulf Coast terminals continued to rise on Monday as farmer selling remained slow and export demand was solid, traders said.
Farmers did not make sales as corn futures set a contract low on the Chicago Board of Trade ahead of the release of major U.S. Department of Agriculture crop reports on Tuesday.
USDA reported on Monday that 1.8 million metric tons of corn and 169,743 tons of soybeans were inspected for export in the week that ended on June 25.
At the Gulf, CIF corn barges loaded in June were bid at 90 cents over CBOT July (CN26) futures, up 3 cents from Thursday.
July CIF corn barges traded at 95 cents over futures, up from Friday's trade of 91 and 92 cents over futures.
FOB export premiums for Gulf corn vessels loaded in July were flat at about 103 cents over futures, and August premiums remained at 108 cents over September (CU26) futures.
CIF soybean barges loaded in July were bid at 90 cents over futures, unchanged from Friday.
FOB export premiums for soybean vessels loaded at the Gulf in July stayed at about 110 cents over July futures, and premiums for August loadings were at 108 cents over CBOT August (SQ26) futures.
Traders have been watching for Chinese demand for U.S. soybeans.
Exporters sold 136,000 tons of U.S. soybeans to unknown destinations for 2026/27 delivery, the USDA said in its daily reporting system.
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)