CIF/FOB Gulf Grain-Soybean bids mixed on China buying, lower barge freight

CHICAGO, Feb 9 (Reuters) - Basis bids for soybeans shipped by barge to U.S. Gulf Coast terminals were mixed on Monday on solid demand, increased supplies in the export pipeline and weaker freight costs, traders said.

• Chicago Board of Trade soybean futures Sv1 hit a two-month high last week after remarks from President Donald Trump that China would boost its U.S. soybean imports this season. The rally boosted farmer sales and increased supplies in the export pipeline.

• The U.S. Department of Agriculture on Monday reported private sales of 264,000 metric tons of old-crop U.S. soybeans to China. Chinese state-owned importers were in the market on Friday for cargoes shipped in May and beyond, and the USDA announcement was likely a confirmation of those purchases, traders said.

• Private Chinese buyers continue to focus on cheaper Brazilian soybeans, with the crop 16% harvested as of last Thursday, according to AgRural.

• River shipping logistics have improved since recent winter weather had slowed operations and caused heavy ice buildup on Midwest rivers. Spot barge freight rates were steady to down 25 points of tariff on Monday. BG/US

• CIF Gulf soybean barges loaded in February were bid at around 103 cents over CBOT March SH26 futures, down 6 cents from late Friday. March barges were bid 4 cents lower at 103 cents over futures. Basis bids for loadings in May and beyond were steady to up 3 cents.

• Export premiums were firm as near-term export loading capacity at Gulf Coast and Pacific Northwest terminals was very tight.

• FOB premiums for February and March loadings were around 130 cents over March futures, up 4 to 6 cents.

• CIF corn barges loaded in February were bid a penny lower at 104 cents over CBOT March CH26 corn futures. March barges were bid unchanged at 99 cents over futures.

• February corn export premiums were around 127 cents over March futures, and March FOB offers were around 125 cents over futures, both up about 5 cents.

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