CIF/FOB Gulf Grain-Soybean, corn basis bids turn lower as harvest rolls on

CHICAGO, Sept 26 (Reuters) - Basis bids for soybeans and corn shipped by barge to U.S. Gulf Coast export terminals turned lower on Friday, as farmer selling has been sluggish and barge freight rates remained high, traders said.

• Midwest farmers did a flurry of selling off soybeans early this week, as growers cleared out storage, traders said. But that selling spree slowed by Friday.

• Now, U.S. farmers are busy with fall harvest and hunting for storage options, as crop prices remain low and they're waiting for updates on potential government subsidy payments, market sources said.

• Concern over interior low water levels, and the impact on barge traffic and freight rates, continue to be something that traders said they are closely watching. BG/US

• CIF Gulf soybean barges loaded in September were 3 cents lower, at 60 cents over Chicago Board of Trade November SX25 futures.

• FOB export premiums for soybeans shipped from the Gulf in October were up 2 cents to about 73 cents over November futures.

• CIF September corn barges were down 2 cents, at 76 cents over CBOT December CZ25 futures.

• FOB export premiums for October corn shipments were offered 2 cents lower, at about 98 cents over December futures.

• Around 40 Argentine soybean cargoes were registered for export in November and December during this week's export tax suspension, mostly headed to China, two traders told Reuters, in purchases that directly eat into the prime U.S. marketing season.

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