CIF/FOB Gulf Grain-Soy barge bids flat-up, USDA confirms Chinese buying

CHICAGO, Nov 28 (Reuters) - Basis bids for soybeans shipped by barge to the U.S. Gulf Coast were steady to higher as the U.S. Department of Agriculture confirmed that China bought more American supplies on Friday, traders said.

• Exporters sold 312,000 metric tons of U.S. soybeans to China, the U.S. Department of Agriculture said in its daily reporting system.

• Traders said on Tuesday that China had purchased at least 10 cargoes of U.S. soybeans, and they had expected the USDA to confirm some deals on Friday.

• The USDA has reported U.S. soy sales of more than 2.2 million metric tons to China since October 30, as the nations reached an agreement to cool their trade dispute.

• Demand from importers other than China has been muted as Brazilian soybeans were priced lower, traders have said.

• Brazil's agriculture ministry said on Thursday it was notified by Chinese authorities that five Brazilian soy exporters were banned from shipping the crop to the Asian country.

• Brazilian soybean farmers were expected to harvest a record crop of 178.1 million metric tons in the 2025/26 season, consultancy Agroconsult said on Thursday.

• Basis values for CIF Gulf November soybean barges were unquoted.

• Bids for December barge shipments were up 3 cents at around 73 cents over Chicago Board of Trade January SF26 futures. January barge bids were steady at 83 cents over futures.

• FOB export premiums for soybeans loaded in December and January were flat at around 103 cents over CBOT January futures.

• For corn, export demand underpinned CIF Gulf basis bids.

• The USDA, in its daily reporting system, said exporters sold 273,988 metric tons of U.S. corn to unknown buyers.

• Corn barges loaded at the Gulf in November were bid at 80 cents a bushel over CBOT December CZ25 futures. December barge bids were flat at about 82 cents over futures.

• FOB export premiums for December corn shipments were flat at around 105 cents over futures.

• CBOT corn futures Cv1 reached their highest level since early June.

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