Spot basis bids for soybeans shipped by barge to U.S. Gulf Coast terminals held steady on Wednesday as traders continued to watch for confirmation of Chinese demand.
Soybean futures on the Chicago Board of Trade have been supported by the possibility of renewed export demand from top importer China at a time when demand from U.S. crushers remains strong.
The U.S. Department of Agriculture is expected to report on Thursday that U.S. soybean export sales for 2025/26 were 300,000 to 650,000 metric tons in the week that ended on June 25, according to a Reuters poll of analysts.
Weekly U.S. corn export sales were estimated at 500,000 to 1.1 million metric tons for 2025/26.
For 2026/27 delivery, analysts expect weekly U.S. export sales of 350,000 to 900,000 metric tons for soybeans and 400,000 to 1.1 million metric tons for corn.
CIF soybean barges loaded in July were bid at 87 cents over CBOT July soybean < (SN26) futures, which was unchanged from Tuesday.
FOB export premiums for soybean vessels loaded at the Gulf in July were about 110 cents over July futures.
CIF corn barges loaded in July were bid at 93 cents over CBOT July (CN26) futures.
FOB export premiums for Gulf corn vessels loaded in July were around 103 cents over futures.
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)