CIF/FOB Gulf Grain-Corn, soybean barge basis steady firm as futures slip

CHICAGO, March 20 (Reuters) - Spot basis bids for soybeans and corn shipped by barge to U.S. Gulf Coast terminals were steady to firmer on Friday on weaker futures values and good demand from exporters, traders said.

• Chicago Board of Trade corn Cv1 and soybean Sv1 futures fell on Friday and were lower in the week. Farmer sales to barge-loading river elevators slowed with the drop in prices, tightening supplies available to exporters.

• Corn loadings at the Gulf have increased as some loadings that were slated for shipment from the Pacific Northwest are set to load at the Gulf Coast instead, traders said. Corn export inspections in the week ended Thursday could top 2 million metric tons, according to a market analyst, citing ship lineup data.

• New sales of U.S. soybeans remained seasonally slow as Brazilian supplies are available at much lower prices. Top importer China also has ample supplies on hand.

• China's soybean imports from the United States in January and February were down nearly 84% from the same period a year ago, according to customs data published on Friday.

• Spot barge freight costs have stabilized after a recent decline that was prompted by improved river shipping conditions. River levels are forecast to decline in the coming days following a stretch of dry weather, barge brokers said. BG/US

• CIF Gulf soybean barges loaded in March were bid 4 cents higher at 66 cents over Chicago Board of Trade May SK26 soybean futures. April soybean barges traded 3 cents higher at 74 cents over futures.

• FOB export premiums for April soybean loadings were steady at 97 cents over futures.

• CIF Gulf corn barges loaded in March were bid 2 cents higher at 85 cents over CBOT May CK26 futures. April corn barge bids gained a penny to 81 cents over futures.

• Corn export premiums for April loadings at the Gulf were steady at 95 cents over futures.