CIF/FOB Gulf Grain-Corn barge basis bids firm, soybean bids ease lower

CHICAGO, Dec 8 (Reuters) - Basis bids for soybeans shipped by barge to U.S. Gulf Coast terminals turned lower on Monday on continued uncertainty over Chinese export demand, while corn basis bids firmed, market sources said.

• Chicago Board of Trade soybean futures fell below $11 a bushel on Monday for the first time since October on uncertainty over whether China will buy as much U.S. supply as Washington expects and as South American weather favored large soy harvests that could begin in about a month, brokers said.

• Some analysts remain skeptical that China's purchases of U.S. soybeans will meet the target of 12 million metric tons cited by U.S. officials.

• Ahead of the USDA's monthly supply/demand report on Tuesday, analysts surveyed by Reuters on average expect the government to raise its forecast of U.S. 2025/26 soybean ending stocks. Market players will be watching for any changes to USDA's U.S. soybean export forecast.

• The U.S. Department of Agriculture on Friday confirmed a "flash" sale of 132,000 metric tons of U.S. soybeans to China for delivery in the 2025/26 marketing year.

• Separately, the USDA reported export inspections of U.S. soybeans in the latest week at 1,018,127 metric tons, in line with trade expectations for 900,000 to 1,250,000 metric tons.

• CIF soybean barges loaded in December were bid at 75 cents over Chicago Board of Trade January soybean SF26 futures, down 2 cents. Deferred contracts also eased.

• FOB export premiums for soybeans loaded in December and January were both down 1 cent, at around 101 cents over CBOT January futures.

• CIF December corn barge bids were bid at 90 cents over CBOT December corn CZ25 futures, turning higher as traders shifted between December and March CH26 corn future contracts.

• FOB export premiums for December corn shipments were around 105 cents over December futures, up 1 cent.

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