CIF/FOB Gulf Grain-Soybean barge bids mostly flat-weaker as demand slows

CHICAGO, Nov 19 (Reuters) - Basis bids for soybeans shipped by barge to the U.S. Gulf Coast were mostly steady to weaker on Wednesday as a flood of farmer selling this week replenished supplies in the export pipeline, traders said.

• Soybean basis values rallied earlier this week as top importer China booked its largest purchases of the marketing year so far.

• Traders said soybean export demand was quiet on Wednesday after nearly 20 cargoes were sold to China's state-owned trader COFCO this week. Higher prices following a futures rally since the start of the week discouraged buyers, traders said.

• The USDA on Wednesday confirmed 330,000 metric tons of U.S. soybeans were sold to China for shipment in the 2025/26 marketing year. The agency confirmed 792,000 tons in sales the previous day. Traders said the sales total was likely higher as some purchases were below the USDA's daily reporting threshold.

• Benchmark soybean futures Sv1 on the Chicago Board of Trade fell 1.6% on Wednesday after hitting the highest point since June 2024 a day earlier.

• CIF Gulf soybean barges loaded in November were bid steady at 74 cents a bushel over Chicago Board of Trade January SF26 futures. December soy barge bids were a penny lower at 83 cents over futures.

• FOB export premiums for soybeans loaded in December and January held steady at around 108 cents over CBOT January SF26 futures.

• Corn barge basis bids were mostly flat on Wednesday.

• CIF Gulf corn barges loaded in November were bid steady at 74 cents over CBOT December CZ25 futures. December barge bids were unchanged at 84 cents over futures.

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

• The USDA is due to release U.S. export sales data for the week ended October 2 early on Thursday. Release of the data was delayed due to the recent U.S. government shutdown.