CIF/FOB Gulf Grain-Soy barge bids largely steady amid China demand uncertainty

CHICAGO, Nov 4 (Reuters) - Basis bids for soybeans shipped by barge to U.S. Gulf Coast terminals were largely steady on Tuesday as traders watched for major Chinese purchases following the nations' trade truce last week.

• U.S. soybean futures Sv1 slid after setting a 16-month high on Monday on expectations that China would restart large-scale U.S. soy buying.

• Traders have yet to confirm large Chinese purchases of U.S. supplies, while on Monday traders said that Chinese soybean importers had stepped up purchases of cheaper Brazilian cargoes.

• Traders were uncertain about whether China would live up to purchasing commitments that U.S. officials announced as part of the countries' trade deal.

• If China resumes large purchases, the U.S. could lose out to Brazil on soy export sales to other destinations, a broker said.

• U.S. Agriculture Secretary Brooke Rollins said on X that Bangladesh's top three soy crushing companies agreed to purchase $1 billion of U.S. soybeans over the next year. In 2024, the U.S. exported 726,623 metric tons of soy to Bangladesh that was worth about $350.5 million, according to U.S. data.

• The U.S. exported 26.8 million metric tons of soy to China in 2024, data show.

• CIF Gulf soybean barge bids for November loadings were about 83 cents over Chicago Board of Trade January SF26 futures.

• FOB export premiums for soybeans loaded in December rose 5 cents to about 107 cents over January futures.

• For CIF corn, November bids were flat at 87 cents over CBOT December CZ25 futures.

• FOB export premiums for November corn shipments remained around 95 cents over futures. Premiums rose for deferred shipments.

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