CIF/FOB Gulf Grain-Corn, soy barge basis level after Gulf Coast storm

CHICAGO, Jan 22 (Reuters) - Spot basis bids for corn and soybeans shipped by barge to the U.S. Gulf Coast were generally steady on Wednesday after a winter storm halted loading operations at export terminals a day earlier and backed up supplies bound for the port, traders said.

The storm dumped ice and record snow in New Orleans, while high winds prompted shipping restrictions on the river. The closures prompted exporters to drop bids for barges on Tuesday as their immediate supplies were ample.

The weather delays underpinned FOB basis values as some January loadings were expected to be pushed into February, reducing available export loading capacity, traders said.

Demand from global buyers was mixed as traders assessed threats from the White House to slap steep tariffs on China, the EU, Mexico and other trading partners.

Chinese demand for U.S. soybeans was seasonally quiet despite a phytosanitary dispute with some exporters in Brazil. Traders said they did not expect the dispute to significantly disrupt shipments from Brazil.

Some southeast Asian importers were shopping for U.S. corn, possibly as a good will gesture amid tariff threats, a trader said.

The U.S. Department of Agriculture confirmed private sales of 136,000 metric tons of U.S. corn to an undisclosed buyer, which some traders said was likely South Korea.

CIF Gulf soybean barges loaded in January were bid up 1 cent at 72 cents over CBOT March soybean SH25 futures.

FOB export premiums for February loadings were steady at 88 cents over March futures.

CIF January corn barges were bid steady at 67 cents over CBOT March corn CH25 futures.

FOB offers for corn shipped from the Gulf in February held at 79 cents over March futures.

(Reporting by Karl Plume; Editing by David Gregorio)

((karl.plume@thomsonreuters.com; +1 313 484 5285))

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