CIF/FOB Gulf Grain-Soybean barge basis steady-lower, corn higher, as river navigation conditions remain icy

CHICAGO, Jan 29 (Reuters) - Basis bids for soybeans shipped by barge to U.S. Gulf Coast export terminals were steady to lower on Thursday, while corn bids turned higher, as navigation along the Illinois and Mississippi Rivers continued to be snarled by ice build-up, traders said.

• Barge freight rates remained high, in part due to these river condition woes - particularly along the Illinois River, where barge transit conditions are worsening by the day, dealers said. BG/US

• Spot basis bids in the cash corn market were mostly steady to firm around the U.S. Midwest on Thursday as wintry conditions in much of the farm belt slowed grain movement and a dip in prices chilled farmer selling, dealers said.

• CIF soybean barges loaded in last-half January traded at 120 cents over Chicago Board of Trade March soybean SH26 futures.

• CIF soybean barges loaded in February also traded at 111 cents over March futures, and September-October loadings traded at 84 cents over November SX26 soybean futures.

• Meanwhile, CIF basis bids for soybean barges loaded in January were down 3 cents at 112 cents over March soybean futures. February barge basis bids were steady at 108 cents over March futures.

• FOB Gulf soybean offers for vessels loaded in February were up 1 cent at about 122 cents over March futures, while offers for March shipments were steady at about 130 cents over futures.

• CIF Gulf January corn barges basis bids were 7 cents higher at 117 cents over CBOT March CH26 futures. February barges rose 5 cents at 110 cents over March futures.

• FOB export premiums for February corn shipments were up 2 cents at 117 cents over March futures, while March offers were steady at about 120 cents over 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