CIF/FOB Gulf Grain-Soy, corn basis steady-higher as winter weather slows movement

CHICAGO, Jan 22 (Reuters) - Basis bids for soybeans and corn shipped by barge to U.S. Gulf Coast export terminals were steady to higher on Thursday, supported by slow grain movement and rising freight costs, traders said.

• Spot barge freight rates on Thursday were steady to firmer as low water on the Mississippi River and ice on the Illinois River impeded navigation. Spot offers on the Mississippi River at St. Louis jumped 50 points of tariff as barge loading limits and tow size restrictions due to low water propped up the per-bushel cost of hauling grain. BG/US

• Water levels at the busy Port of St. Louis were within 4 feet of a record low and were forecast to remain near the lows through at least the end of the month, according to the National Weather Service.

• Harsh winter weather is also slowing barge cleaning and loading operations at river elevators around the Midwest, according to barge brokers. Heavy snow and ice is forecast for a wide swath of the U.S. South through the weekend.

• The U.S. Department of Agriculture is due to release weekly export sales totals early on Friday. Corn and soybean sales could top 3 million metric tons as a steep drop in prices attracted demand, analysts said.

• Soybean barges loaded at the Gulf in January were up 2 cents at 108 cents over Chicago Board of Trade March soybean SH26 futures. February barge bids were up 1 cent at 103 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 Gulf January corn barges were bid steady at 93 cents over CBOT March CH26 futures. February barges were bid a penny higher at 94 cents over futures.

• FOB export premiums for February corn shipments were a penny higher at 108 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