CIF/FOB Gulf Grain-Spot soy barge bids rise on Chinese demand
Nov 27 (Reuters) -Spot basis bids for soybeans shipped by barge to the U.S. Gulf Coast rose on Wednesday amid talk of additional sales to top-importer China, traders said.
* Tight spot loading capacity at Gulf terminals has helped underpin spot values.
* Chinese buyers purchased more U.S. soy, including cargoes for February shipment from the Gulf, two brokers said. The deals were not confirmed.
* Exporters sold 132,000 metric tons of U.S. soy to China for 2024/25 delivery, the U.S. Department of Agriculture reported on Wednesday morning.
* U.S. President-elect Donald Trump, who takes office in January, has outlined plans for "an additional 10% tariff, above any additional tariffs" on imports from China, sparking fears Beijing will retaliate.
* Trump also pledged to impose a 25% tariff on imports from Canada and Mexico, the biggest U.S. corn buyer. Mexico would retaliate, Mexican President Claudia Sheinbaum said on Wednesday.
* CIF Gulf soybean barges loaded in November were bid 90 cents over Chicago Board of Trade January soybean SF25 futures, up four cents from Tuesday. December soy barge bids were bid 86 cents over futures, up two cents.
* FOB export premiums for soybeans shipped from the Gulf in December were steady at about 115 cents over January futures. January offers were about 106 cents over futures, down two cents.
* CIF corn barges loaded in November were bid at about 78 cents over CBOT December CZ24 futures, down two cents. December barges were bid at 79 cents over futures, down two cents.
* FOB offers for January corn shipped out of the Gulf, the first month available, were down two cents at 90 cents over CBOT March CH25 futures.
* On Friday, USDA is slated report weekly U.S. grain and soy export sales data, one day later than usual because of the Thanksgiving holiday on Thursday.
* Weekly U.S. export sales for 2024-25 are expected to be 1.5 million to 2.4 million metric tons for soybeans and 800,000 to 2 million metric tons for corn, analysts said.
* Chicago Board of Trade grain markets will be closed on Thursday and re-open for an abbreviated session on Friday.
Reporting by Tom Polansek; Editing by Mohammed Safi Shamsi
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
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