--- title: "CIF/FOB Gulf Grain-Soybean basis bids firm on export demand; nearby corn basis bids ease" type: "News" locale: "en" url: "https://longbridge.com/en/news/272880137.md" description: "Basis bids for soybeans at U.S. Gulf terminals rose due to strong export demand, particularly from China, while nearby corn basis bids decreased. The U.S. Department of Agriculture reported record corn storage levels, prompting Southeast Asian buyers to seek U.S. corn. Additionally, South Korean mills purchased U.S. milling wheat. Low water levels on Midwest rivers are affecting barge movement, with forecasts of cold temperatures expected to cause ice build-up. January CIF corn bids fell, while soybean bids increased slightly." datetime: "2026-01-16T21:35:55.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/272880137.md) - [en](https://longbridge.com/en/news/272880137.md) - [zh-HK](https://longbridge.com/zh-HK/news/272880137.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/272880137.md) | [繁體中文](https://longbridge.com/zh-HK/news/272880137.md) # CIF/FOB Gulf Grain-Soybean basis bids firm on export demand; nearby corn basis bids ease CHICAGO, Jan 16 (Reuters) - Basis bids for soybeans shipped by barge to U.S. Gulf Coast terminals were higher on Friday on good exporter demand after solid export sales to China this week, while nearby corn basis bids eased, traders said. - Renewed export demand also has provided grain and oilseed market support this week as a flurry of flash sales were announced, along with a marketing year high on weekly sales. - Some southeast Asian importers were shopping for corn in particular, after U.S. corn futures plunged on Monday when the U.S. Department of Agriculture reported that U.S. farmers and grain companies held the most corn in storage ever as of December 1, after growers harvested a record-breaking crop that was even bigger than previously expected. - The U.S. Department of Agriculture confirmed private sales of 398,000 metric tons of U.S. corn. Of that total, 120,000 tons were sold to Japan and 298,000 tons were sold to “unknown destinations” - both for delivery in the 2025⁄26 marketing year. - South Korean flour mills are believed to have bought about 92,300 metric tons of milling wheat to be sourced from the United States in an international tender on Thursday, above previous estimates of 50,000 tons, European traders said on Friday. Traders reported on Friday that an additional consignment of 42,300 tons of U.S. wheat was bought in addition to the first 50,000 tons reported. - Low water levels on Midwest rivers have slowed barge movement and lock operations, and forecasts for sharply cold temperatures are expected to cause ice build-up going into next week. (BG/US) - CIF Gulf January corn barges were bid 2 cents lower, at 88 cents over Chicago Board of Trade March corn (CH26) futures. Meanwhile, February CIF corn barges were bid at 91 cents, down 1 cent, over March futures. But deferred month bids firmed. - FOB export premiums for February corn shipments were down 2 cents — offered at about 107 cents over March futures, dealers said. FOB export premiums for March shipments were offered up 1 cent at 111 cents over March futures. - CIF bids for Gulf soybean barges loaded in January were up 3 cents at 99 cents over CBOT March soybean (SH26) futures. February barges were also up 3 cents, bid at 98 cents over March futures. - FOB Gulf soybean offers for vessels loaded in February were steady at about 118 cents over March futures, and offers for March shipments were steady at 115 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 Corn prices page: cpurl://apps.cp./cms/?pageid=corn-cash-market Wheat prices page: cpurl://apps.cp./cms/?pageid=wheat-cash-market U.S. barge freight (BG/US) U.S. export sales estimates (USDA/EST) U.S. grain export summary (GRA/U) Brazil soybean export prices (SYBS) Brazil corn export prices (SYBX) Argentina grain prices (GRA/ARG) Russia grain prices (GRA/RU) ## Related News & Research - [Exporters sell US corn to unknown destinations - USDA](https://longbridge.com/en/news/277645588.md) - [Corn Posts Friday Rally to Close February](https://longbridge.com/en/news/277259204.md) - [Grain Spreads KC/Chicago Wheat Spread](https://longbridge.com/en/news/277683833.md) - [Exporters sell US corn to Japan - USDA](https://longbridge.com/en/news/277100996.md) - [Short Term Trend Turns Positive In Corn](https://longbridge.com/en/news/277366894.md)