CIF/FOB Gulf Grain-Corn, soybean barge bids turn lower

CHICAGO, Nov 10 (Reuters) - Basis bids for soybeans and corn shipped by barge to the U.S. Gulf Coast turned lower in nearby loading positions on Monday, traders said.

• But tight near-term grain loading capacity at Gulf and Pacific Northwest terminals continue to keep a floor under export premiums, traders said.

• Barge basis bids for both commodities had fallen as farmer selling jumped amid a futures market rally and bolstered supplies in the export pipeline.

• CIF Gulf soybean barges loaded in November traded at 73 cents a bushel Chicago Board of Trade January SF26 futures. Soybean barges loaded in December also traded at 83 cents a bushel over January futures.

• CIF Gulf soybean barges loaded in November were bid 70 cents a bushel over Chicago Board of Trade January SF26 futures, down 2 cents from trades on Friday.

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

• December corn barge bids traded at 82 cents over CBOT December CZ25 futures.

• November corn barge bids were 4 cents lower 76 cents over CBOT December CZ25 futures.

• FOB export premiums for December corn shipments were flat around 100 cents over futures.

• Chicago Board of Trade soybean futures rose on Monday on signs of progress toward the end of a record-long U.S. government shutdown, along with expectations of a revival of U.S. soybean exports to top buyer China, traders said.

• USDA reported export inspections of U.S. soybeans in the latest week at 1,088,577 metric tons, in line with trade expectations for 1,000,000 to 1,700,000 tons. USDA/I

• The U.S. harvest is seen as nearly complete, with analysts surveyed by Reuters on average estimating the soybean harvest as 96% finished. The USDA has not released its regular weekly U.S. crop progress report since late September.

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