CIF/FOB Gulf Grain-Corn, soybean barge bids turn higher

CHICAGO, Feb 19 (Reuters) - Spot basis bids for corn and soybeans shipped by barge to the U.S. Gulf Coast continued to turn higher on Wednesday, as river terminals dealt with loading problems and barge availability was mixed, traders said.

Low river levels on the Mississippi River at St. Louis are making it difficult for some river elevators to load barges, one trader said.

Meanwhile, high river levels along the Ohio River, particularly at Cairo, are also making it impossible for some grain elevators to load barges, the trader said.

The recent spate of severely cold weather, which has slowed commercial grain movement, has also impacted barge rates and availability along parts of the Illinois River, traders said. But warmer temperatures this weekend should help ease navigation issues next week, they said.

Chicago Board of Trade corn futures Cv1 pulled back from a 16-month high on Wednesday as traders booked profits and anticipated that recent gains will drive bigger U.S. plantings this spring.

CIF corn barges loaded in February were bid up 2 cents at 83 cents over Chicago Board of Trade March CH25 futures, while March barges were steady, bid at 77 cents over futures.

Export premiums for corn loaded in the first half of March were 94 cents over futures, while last-half offers were 89 cents over futures — both steady from Tuesday.

CIF soybean barges loaded February 1 through February 20 traded at 86 cents over Chicago Board of Trade March SH25 futures, and March loadings traded at 83 cents over futures.

CIF soybean barges loaded in February were bid 6 cents higher at 77 cents over CBOT March SH25 futures. Meanwhile, soy barge bids for deferred months were mixed.

FOB export premiums for March soybean loadings rose 3 cents to 90 cents over futures, tracking gains in the CIF barge market.

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