CIF/FOB Gulf Grain-Soy barge bids rise as traders gauge Chinese demand

CHICAGO, Dec 2 (Reuters) - Basis bids for soybeans shipped by barge to the U.S. Gulf Coast rose on Tuesday as traders continued to gauge Chinese demand for American supplies.

• The U.S. Department of Agriculture reported no new "flash" sales of U.S. soybeans on Monday or Tuesday, after confirming a string of sales to China last month.

• Traders have been closely watching Chinese buying since the nations agreed to a trade truce in late October.

• China will need to accelerate its demand in order for U.S. soybean exports to reach the USDA's estimate of 1.635 billion bushels for the 2025/26 marketing year, traders said.

• The USDA is slated to issue updated global supply and demand data in a monthly report next week.

• An analyst said China bought some Brazilian soybeans, which have been priced at a discount to U.S. soy.

• Favorable crop weather in South America weighed on Chicago Board of Trade soybean Sv1 futures. GRA/

• Basis values for CIF Gulf December soybean barge shipments were up 3 cents at around 75 cents over CBOT January SF26 futures. January barge bids were 1 cent higher at about 84 cents over futures.

• FOB export premiums for soybeans loaded in December and January stayed steady at about 103 cents over CBOT January futures.

• For corn, barges loaded at the Gulf in December were bid at 86 cents a bushel over CBOT December CZ25 futures, up 2 cents.

• FOB export premiums for December corn shipments remained at around 105 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