CIF/FOB Gulf Grain-Soybean barge bids steady-firm, corn flat-weaker

CHICAGO, Nov 7 (Reuters) - Basis bids for soybeans shipped by barge to the U.S. Gulf Coast were mostly steady to slightly firmer in nearby loading positions on Friday, while corn bids were mostly flat to lower, traders said.

• Barge basis bids for both commodities had dropped sharply earlier in the week as farmer selling accelerated amid a futures market rally and bolstered supplies in the export pipeline.

• Spot river freight costs were steady to higher on Friday on tighter available supplies of barges. BG/US

• Soybean traders were awaiting larger export purchases by China after the White House said China pledged to buy 12 million metric tons by the end of the year. China has not confirmed the deal and has made only minimal purchases of U.S. soy since a meeting between both presidents last week.

• Brazilian soybean prices are lower than U.S. shipments and China and other buyers have been booking purchases from South America this week. China's soybean imports reached a record level for October on large South American purchases.

• China said it will restore three U.S. firms' eligibility to export soybeans to China. But details were lacking from a soybean procurement signing ceremony on Thursday.

• Tight near-term grain loading capacity at Gulf and Pacific Northwest terminals kept a firm floor under export premiums, traders said.

• CIF Gulf soybean barges loaded in November were bid 72 cents a bushel over Chicago Board of Trade January SF26 futures, up a penny from trades a day earlier.

• FOB export premiums for soybeans loaded in December held steady at around 107 cents over CBOT January SF26 futures.

• November corn barge bids were a penny lower at 80 cents over CBOT December CZ25 futures.

• FOB export premiums for December corn shipments were flat around 100 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