CIF/FOB Gulf Grain-Soybean barge basis mixed after prior day rally on sales to China

CHICAGO, Nov 18 (Reuters) - Basis bids for soybeans shipped by barge to the U.S. Gulf Coast and loaded for export were mixed on Tuesday after a steep rally on Monday on a flurry of sales to China.

• Traders could not confirm that China bought any additional soybean cargoes on Tuesday after the top importer booked at least 14 cargoes a day earlier for shipment from both Gulf Coast and Pacific Northwest terminals.

• The U.S. Department of Agriculture reported 792,000 metric tons in U.S. soybean sales via its daily reporting system on Tuesday morning, confirming Reuters reporting from Monday.

• Benchmark soybean futures Sv1 on the Chicago Board of Trade rallied to the highest level since June 2024 on news of the China sales. The price jump kept a lid on fresh demand on Tuesday. Prices for Brazilian soybeans are also at a sizable discount to U.S. shipments.

• CIF Gulf soybean barges loaded in November were bid 74 cents a bushel over Chicago Board of Trade January SF26 futures, down a penny from Monday when the bid rallied as much as 13 cents. December soy barge bids were steady at 84 cents over futures.

• Soy barges loaded in late December traded as high as 88 cents over futures on Tuesday, in line with offers a day earlier. January barges traded as high as 91 cents over futures, up a penny.

• FOB export premiums for soybeans loaded in December and January were around 108 cents over CBOT January SF26 futures, down slightly from offers on Monday but up from late last week.

• Corn barge basis bids were flat to lower on Tuesday following Monday's rally.

• CIF Gulf corn barges loaded in November were bid 4 cents lower at 74 cents over CBOT December CZ25 futures. December barge bids at 84 cents over futures were steady with sales on Monday.

• FOB export premiums for December corn shipments held steady at around 100 cents over futures.