CHICAGO, Jan 23 (Reuters) - Basis bids for soybeans and corn shipped by barge to U.S. Gulf Coast export terminals were mostly higher on Friday as low water and harsh winter weather slowed grain movement and impeded navigation on Midwest rivers, traders said.
<ul>
<li>Spot barge freight rates firmed by up to 50 points of tariff this week, barge brokers said. Low water on the Mississippi River prompted barge loading limits and tow size restrictions, which propped up the per-bushel cost of hauling grain. Meanwhile, heavy ice buildup on the Illinois River slowed barge movement. (BG/US)</li>
<li>Temperatures across much of the country plunged late this week, particularly in the northern Midwest. The bitter cold hampered barge cleaning and loading operations at river elevators. Heavy snow and ice forecast for a wide swath of the U.S. South through the weekend was expected to disrupt navigation.</li>
<li>Water levels at the busy Port of St. Louis were about 4 feet above a record low and were forecast to remain near the lows through at least the end of the month, according to the National Weather Service.</li>
<li>An uptick in export sales and loadings at the Gulf lifted demand from grain export terminals. The U.S. Department of Agriculture reported the strongest week of net U.S. corn export sales since October 2024 last week, while soybean sales were the biggest since November 2023, according to USDA data released on Friday.</li>
<li>CIF basis bids for soybean barges loaded in January were up 1 cent at 109 cents over Chicago Board of Trade March soybean (SH26) futures. February barge bids were up 1 cent at 104 cents over futures.</li>
<li>FOB Gulf soybean offers for vessels loaded in February held at 118 cents over March futures, while offers for March shipments were 115 cents over futures.</li>
<li>CIF Gulf January corn barges were bid 4 cents higher at 97 cents over CBOT March (CH26) futures. February barges were bid 2 cents higher at 96 cents over futures.</li>
<li>FOB export premiums for February corn shipments were steady at 108 cents over March futures.</li>
</ul>
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)

VEGI

SOYB

FTAG

CORN

CIF and FOB basis bids for soybeans and corn shipped to U.S. Gulf Coast export terminals increased due to harsh winter weather and low water levels affecting barge movement. Spot barge freight rates rose, and the U.S. Department of Agriculture reported strong export sales for corn and soybeans. January CIF basis bids for soybeans rose to 109 cents over futures, while corn bids increased to 97 cents over futures. The cold weather is expected to disrupt navigation further, impacting grain transportation.

Reuters

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Invesco DB Agriculture FD ETF

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Teucrium Corn Fd

CIF/FOB Gulf Grain-Corn, soybean basis rises as winter weather slows barge movement