CIF/FOB Gulf Grain-Soybean, corn barge bids steady as Chicago futures rally

CHICAGO, Jan 6 (Reuters) - Spot basis bids for corn and soybeans shipped by barge to U.S. Gulf Coast terminals were generally steady on Monday amid light trade interest and as grain and oilseed futures rallied, traders said.

* Chicago Board of Trade corn futures Cv1 surged to a more than six-month high during Monday's session amid growing concern over dry conditions in Argentina, while soybean futures firmed on a lack of significant moisture in the world's largest exporter of soybean oil and meal.

* Global buyers are awaiting newly harvested supplies from Brazil, where farmers are expected to reap a record soy crop and the second-largest corn crop on record.

* Algerian state agency ONAB has issued an international tender to purchase up to 240,000 metric tons of animal-feed corn from Argentina or Brazil, European traders said on Monday.

* Spot barge freight rates were unchanged on the Illinois River, but slightly up in the spot market at the Mississippi River at St. Louis for some barges. BG/US

* Traders noted that heavy snowfall hit the St. Louis area on Sunday, dropping up to one foot of snow. Similar snowfall totals were seen along the Ohio River, they said.

* CIF soybean barges loaded in January were bid 81 cents over CBOT March soybean SH25 futures, steady from Friday.

* FOB export premiums for January soybean shipments were still unquoted, though February offers were steady at about 95 cents over March futures.

* CIF January corn barges were steady, bid at 66 cents over CBOT March corn CH25 futures.

* FOB offers for corn shipped from the Gulf in January held steady at 86 cents over March futures.

(Reporting by P.J. Huffstutter; Editing by Alan Barona)

((pj.huffstutter@thomsonreuters.com; 313-484-5275 (w)))

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