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CIF/FOB Gulf Grain-Nearby soybean barge bids firm on good demand



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Sept 26 (Reuters) -Basis bids for soybeans shipped by barge to the Gulf Coast were mostly higher on Thursday, with spot values up on strong demand and limited supplies of export-grade beans in the marketing pipeline, traders said.

* Nearby CIF soybean basis has jumped this week as exporters are seeking higher quality Midwest beans amid some concerns about rain-damaged Delta soy. Farmers in the Midwest have not harvested many soybeans yet.

* Soybean export demand has been rising as U.S. shipments are competitively priced on the world market and as top buyer China has been booking cargoes for October through December shipment, traders said.

* The U.S. Department of Agriculture (USDA) said net U.S. soybean sales totaled 1,574,721 metric tons in the week ended Sept. 19, in line with trade estimates. That total included at least 869,700 tons sold to China. EXP/SOY

* CIF corn basis bids were steady to firmer as futures prices eased and as a slowdown in farmer marketings tightened available spot supplies.

* The USDA pegged net U.S. corn export sales last week at 535,056 metric tons, below trade estimates and the lowest weekly tally in 4-1/2 months. EXP/CORN

* CIF September soy barges were bid 3 cents higher at 90 cents over Chicago Board of Trade November soybean SX24 futures. October soybean barges were bid 2 cents lower at 80 cents over futures.

* FOB soy export premiums for the first half of November were unchanged at 130 cents over futures. Last-half November offers were up 2 cents at 123 cents over futures.

* CIF corn barges loaded in September were bid a penny higher at 68 cents over CBOT December CZ24 futures. October barge bids rose 3 cents to 75 cents over futures.

* FOB Gulf corn export basis offers were 115 cents over futures for first-half November shipment and 112 cents over for last-half, both steady.



Reporting by Karl Plume in Chicago; 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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