CIF/FOB Gulf Grain-Spot soy barge bids ease on higher futures, farmer sales

CHICAGO, Nov 3 (Reuters) - Basis bids for soybeans shipped by barge to U.S. Gulf Coast terminals eased on Monday as rising futures prices and accelerated farmer selling bolstered supplies in the export pipeline, traders said.

• Chicago Board of Trade soybean futures Sv1 hit their highest point in 16 months on Monday on expectations for large sales to China following a U.S.-China agreement to de-escalate their trade war.

• The White House published details of the agreement on Saturday. China is to buy 12 million metric tons of U.S. soybeans in November and December and 25 million tons annually over the next three years.

• A small number of U.S. soybean purchases have been booked by China in recent days, although volumes were not immediately available, traders said.

• Chinese importers bought around 20 cargoes of Brazilian soybeans in recent days as prices eased to levels below U.S. values.

• CIF Gulf soybean barge bids for October loadings fell 3 cents to 93 cents over CBOT November SX25 futures. November bids fell 2 cents to 94 cents over futures. Deferred bids were steady to up 3 cents.

• FOB export premiums for soybeans loaded in December held steady at 102 cents over CBOT January SF26 futures.

• CIF corn October basis bids were unchanged at 89 cents over CBOT December CZ25 futures. November bids were a penny weaker at 87 cents over futures.

• FOB export premiums for November corn shipments held at 95 cents over futures.

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