CIF/FOB Gulf Grain-Spot soy barge bids ease, deferred values steady on good demand

CHICAGO, Dec 15 (Reuters) - Basis bids for soybeans shipped by barge to U.S. Gulf Coast terminals in December were lower on Monday in light trading, while bids for barges loaded in January and beyond held mostly steady on recent improved demand from China, traders said.

• CIF corn basis bids were mostly steady to weaker.

• Firming barge freight rates limited basis declines in the CIF market, traders said. Concerns about low water on the lower Mississippi River propped up freight rates as some shippers are likely to reduce drafts on barges in the coming weeks, they said. BG/US

• Soybean export demand has improved from earlier in the autumn on accelerated purchases by Chinese state buyers last week. Traders said China has likely booked up to 7 million metric tons of U.S. soy purchases since returning to the market in late October.

• The U.S. Department of Agriculture on Monday confirmed 136,000 tons in U.S. soybean sales to China, the latest in a string of daily sales announcements. Net export sales in the week ended November 20 topped 2.3 million tons, the highest for any week in a year, according to USDA data released on Monday. EXP/SOY

• CIF bids for soybean barges loaded in December were down 9 cents at 73 cents over Chicago Board of Trade January soybean SF26 futures, while CIF offers for January loadings were unchanged at 90 cents over futures.

• FOB export premiums for soybeans loaded in December were steady at 104 cents over January futures, while January premiums were steady at 105 cents over futures.

• CIF December corn barges were bid a penny lower at 73 cents over March corn CH26 futures, while January bids were steady at 78 cents over futures.

• FOB export premiums for December and January corn shipments were steady at about 96 cents over March 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