USA: Basis bids for soybeans shipped by barge are firmer on good demand

Basis bids for soybeans shipped by barge to U.S. Gulf Coast terminals through the end of the year were firmer on Friday on good demand, while deferred bids were mostly flat to weaker, traders said. * Easing barge freight costs dragged nearby CIF values from multi-year highs this week. Strong demand, including from Chinese importers looking to secure supplies ahead of the January U.S. presidential inauguration, helped to stabilize prices late in the week, traders said. * The U.S. Department of Agriculture (USDA) on Friday confirmed 330,000 metric tons of private U.S. soybean sales for shipment to China and undisclosed buyers. * Longer term demand from China is unclear ahead of the U.S. presidential election next week, with both candidates expected to confront Beijing on trade. * China’s push to shift its food import sources since 2018 has put it in a better position to impose tit-for-tat tariffs on U.S. farm goods with less harm to its food security if trade friction with ...