CIF/FOB Gulf Grain-Soybean basis firm as cold, low water slows barge movement

CHICAGO, Jan 21 (Reuters) - Basis bids for soybeans shipped by barge to U.S. Gulf Coast terminals were mostly firmer on Wednesday on good spot demand from exporters and worries about shipping delays on Midwest rivers, traders said.

• Barge freight rates were steady to higher on Wednesday as low water on the Mississippi River and ice buildup on the Illinois River slowed navigation. Spot offers on the Illinois River were up 25 points of tariff. BG/US

• Water levels at the busy Port of St. Louis dropped by nearly nine feet over the past three days.

• Frigid temperatures are slowing barge cleaning and loading operations around the Midwest, barge brokers said.

• Soybean demand from China has slowed following a recent flurry of purchases by the top importer, traders said. Brazilian prices are at least 50 cents below U.S. Gulf prices for February loadings, they said.

• CIF bids for Gulf soybean barges loaded in January were up 4 cents at 106 cents over Chicago Board of Trade March soybean SH26 futures. February barge bids were up 3 cents at 102 cents over futures.

• FOB Gulf soybean offers for vessels loaded in February held at 118 cents over March futures, while offers for March shipments were 115 cents over futures.

• CIF corn basis bids firmed in nearby loading positions on rising freight costs and concerns about shipping delays.

• CIF Gulf January corn barges were bid 7 cents higher at 93 cents over CBOT March corn CH26 futures and February corn barges were bid 2 cents higher at 93 cents over March futures.

• FOB export premiums for February corn shipments were steady at 107 cents over March futures and March shipments were offered at 111 cents over March futures.

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