CIF/FOB Gulf Grain-Soy barge bids rise as traders report likely Chinese buying

CHICAGO, Dec 3 (Reuters) - Basis bids increased for soybeans shipped by barge to the U.S. Gulf Coast on Wednesday as traders said that Chinese buyers likely made purchases.

Traders said Chinese buyers likely purchased U.S. soybeans for December-January-February delivery. Reuters could not immediately confirm sales volumes.
Traders will be watching for the U.S. Department of Agriculture to potentially confirm sales in its daily reporting system on Thursday. The USDA has not reported new "flash" sales of U.S. soybeans this week, after reporting a string of sales to China last month.
Shipments of U.S. crops to China were accelerating after a tariff war had stalled trade for months, with at least six bulk cargo vessels scheduled to load with soybeans at Gulf Coast terminals through mid-December, according to a shipping schedule seen by Reuters on Tuesday. A seventh U.S. soybean cargo was loaded over the past weekend and was already en route to China, the first such shipment since May.
U.S. Treasury Secretary Scott Bessent told the New York Times DealBook summit on Wednesday that China was poised to complete its commitments under a U.S.-China trade agreement, including the purchase of 12 million metric tons of soybeans, which the Treasury chief said would be finished by the end of February 2026. In late October, U.S. officials said China would buy 12 million metric tons by the end of the year.
By February, Brazil will likely be starting its harvest of what is projected as a record-large soybean crop that could dominate exports.
Basis values for CIF Gulf December soybean barge shipments were up 5 cents at around 80 cents over Chicago Board of Trade January SF26 futures. January barge bids were 2 cents higher at about 86 cents over futures.
FOB export premiums for soybeans loaded in December and January were about 103 cents over CBOT January futures.
For corn, barges loaded at the Gulf in December were bid at 88 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