CIF/FOB Gulf Grain-Soybean barge basis rises on good demand, river shipping woes

CHICAGO, April 11 (Reuters) - Basis bids for soybeans delivered by barge to U.S. Gulf Coast terminals were mostly higher on Friday on good demand from exporters as river shipping woes stalled movement of supplies to the export hub, traders said.

* Flooding on the lower Ohio River following severe storms last week left elevators unable to load barges or move out those that have already been loaded.

* The river is above flood stage and is not forecast to significantly recede for at least another week, according to National Water Prediction Service data.

* Heavy water flows from the Ohio River are also snarling barge operations on the lower Mississippi River.

* Barge lines are restricting vessel movement to daylight hours only in several locations and limiting tow sizes due to high water, shipping sources said.

* Soybean export demand has improved from recent seasonally low levels. Exporters reported better demand from European buyers.

* The U.S. Department of Agriculture confirmed private sales of 121,000 metric tons of old- and new-crop U.S. soy to undisclosed destinations following a 198,000-ton sale earlier in the week to unnamed buyers. Traders said the deals were believed to be bound for Europe as Chinese demand has stopped because of high tariffs.

* CIF Gulf soybean barges loaded in April were bid 6 cents higher at 84 cents over Chicago Board of Trade May SK25 futures.

* Export premiums for soybeans loaded in April rose 2 cents to 95 cents over May futures, while May shipments were offered a penny higher at 85 cents over futures.

* CIF Gulf corn barges loaded in April were bid 3 cents higher at 76 cents over CBOT May CK25 futures.

* FOB export premiums for corn shipped in April were steady at 86 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