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CIF/FOB Gulf Grain-Soybean basis steady-firm on demand, corn flat



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Sept 19 (Reuters) -Basis bids for soybeans shipped by barge to the U.S. Gulf Coast and loaded for export were steady to higher on Thursday on rising demand and elevated freight costs, while CIF corn basis bids were mostly steady, traders said.

* Nearby Gulf export loading capacity was limited following recent grain handling delays caused by bad weather.

* Chinese importers have been inquiring about soybean prices since returning from mid-autumn festival holidays earlier this week. Traders said some sales for November shipment from Pacific Northwest ports were likely on Thursday as soybeans were competitively priced.

* The U.S. Department of Agriculture said net U.S. soybean export sales last week totaled 1.748 million metric tons, above trade estimates. China was the buyer of 973,900 tons. EXP/SOY

* Grain barge movement on the Mississippi River remained slow due to low water and restrictions on barge drafts and tow sizes.

* Spot barge freight costs rose by 25 percentage points of tariff on the Mississippi River at St. Louis on Thursday but held steady on the Illinois and lower Ohio rivers. BG/US

* CIF September soy barges were bid 5 cents higher at 70 cents over Chicago Board of Trade November soybean SX24 futures, while October barge bids gained 3 cents to 74 cents over futures.

* FOB soy export premiums for the first half of November, the earliest available loading slot, were up 1 cent at around 131 cents over futures, while last-half November offers were up 2 cents at 122 cents over futures.

* CIF corn barges loaded in September were bid steady at 71 cents over CBOT December CZ24 futures. October barge bids were steady at 76 cents over futures.

* FOB Gulf export premiums for corn were 115 cents over futures for first-half November shipment and 112 cents over for last-half, both steady.




Reporting by Karl Plume in Chicago; Editing by Mohammed Safi Shamsi

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
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