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CIF/FOB Gulf Grain-Spot soy barge bids slip, exporters report US sales to unknown buyers



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Nov 29 (Reuters) -Spot basis bids for soybeans shipped by barge to the U.S. Gulf Coast eased on Friday, though traders continue to talk about Chinese demand in the market.

* The U.S. Department of Agriculture reported weekly 2024-25 net U.S. soybean export sales of 2.5 million metric tons, a marketing-year high. That was up 31% from the prior four-week average and above analysts' estimates for 1.5 million to 2.4 million tons.

* Of the total, weekly net sales to China accounted for 1.1 million metric tons, according to USDA.

* China, the world's biggest soybean importer, will increasingly look to top-exporter Brazil for supplies in another month or so, brokers said.

* USDA said separately in a daily reporting system that exporters sold 840,000 metric tons of U.S. soybeans and 151,700 metric tons of U.S. soybeans to unknown destinations for 2024-25 delivery.

* CIF Gulf soybean barges loaded in November were bid 87 cents over Chicago Board of Trade January soybean SF25 futures, down three cents from Wednesday. December soy barge bids were bid 85 cents over futures, down a penny.

* FOB export premiums for soybeans shipped from the Gulf in December remained at about 115 cents over January futures. January offers were about 106 cents over futures, which was flat.

* For corn, USDA reported weekly 2024-25 net U.S. export sales of 1.1 million metric tons. That was down 46% from the prior four-week average but within analysts' estimates for 800,000 to 2 million metric tons.

* CIF corn barges loaded in November were bid at about 79 cents over CBOT December CZ24 futures, and December barges were bid at 80 cents over futures.

* FOB offers for January corn shipped out of the Gulf, the first month available, were steady at 90 cents over CBOT March CH25 futures.



Reporting by Tom Polansek; Editing by Shounak Dasgupta

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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