CIF/FOB Gulf Grain-Soybean barge bids ease, corn basis steady-weak
Nov 25 (Reuters) -Spot basis bids for soybean shipped by barge to the U.S. Gulf Coast eased on light trading on Monday, while corn bids were mostly steady to lower, traders said.
* Spot barge freight rates continued to weaken as higher water levels in Midwest rivers improved shipping conditions and bolstered grain supplies at the Gulf.
* The U.S. Department of Agriculture (USDA) said soybean export inspections last week totaled 2.1 million metric tons, near the high end of a range of trade estimates. Season-to-date inspections are 12% ahead of a year ago following a strong pace of shipments in recent weeks.
* CIF Gulf soybean barges loaded in November were bid 87 cents over Chicago Board of Trade January soybean SF25 futures, down from trades from 91 to 94 cents over on Friday. December soy barge bids were steady at 85 cents over futures.
* Tight spot loading capacity at Gulf terminals underpinned spot values.
* FOB export premiums for soybeans shipped from the Gulf in December were firm at 115 cents over January futures, up 4 cents, while January offers dipped 2 cents to 108 cents over futures.
* CIF corn barges loaded in November were bid steady at 80 cents over CBOT December CZ24 futures, while December barges were bid a penny lower at 81 cents over futures.
* FOB offers for January corn shipped out of the Gulf, the first month available, were unchanged at 92 cents over CBOT March CH25 futures.
Reporting by Karl Plume; 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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