CHICAGO, Jan 8 (Reuters) - Spot basis bids for soybeans shipped by barge to U.S. Gulf Coast export terminals continued to creep higher on Wednesday, traders said.

* Exporters sold 120,000 metric tons of U.S. soybeans to unknown buyers for 2024/25 delivery, the U.S. Department of Agriculture said in a daily reporting system. It was the first soybean sale announced in the daily system since Dec. 23.

* February offers for Brazilian soybeans are priced at a discount to U.S. soy, a broker said, making U.S. supplies look less attractive to global buyers.

* A potentially record soy harvest in Brazil could boost its exports in 2025 to an unprecedented 110 million tons, the Brazilian grains exporter lobby Anec said.

* Strength in the U.S. dollar also makes U.S. farm products look more costly for importers.

* The dollar rose for a second straight session to approach last week's two-year peak, following a report that President-elect Donald Trump was contemplating the use of emergency measures to allow for a new tariff program.

* Tariffs could prompt grain and soy importers, such as Mexico and China, to retaliate by reducing purchases of U.S. crops.

* CIF soybean barges loaded in January were bid 84 cents over CBOT March soybean futures, up 2 cents from Tuesday.

* FOB export premiums for February offers were flat at about 95 cents over March futures.

* CIF January corn barges were bid at about 66 cents over CBOT March corn futures, which was unchanged.

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

* Weekly U.S. grain and soy export sales data are slated to be published on Friday, one day later than usual, as the federal government observes a day of mourning for former President Jimmy Carter on Thursday.

(Reporting by Tom Polansek; Editing by Mohammed Safi Shamsi)

((Thomas.Polansek@thomsonreuters.com))

((For displays of CIF basis, click on the codes in brackets:

U.S. CIF Gulf soybeans

U.S. CIF Gulf corn

U.S. CIF Gulf SRW wheat

U.S. CIF Gulf HRW wheat For displays of FOB basis, please click on the following codes in brackets:

U.S. FOB Gulf corn

U.S. FOB Gulf soybeans

U.S. FOB Gulf SRW wheat

U.S. FOB Gulf HRW wheat

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 U.S. export sales estimates U.S. grain export summary Brazil soybean export prices Brazil corn export prices Argentina grain prices Russia grain prices ))