US CIF Gulf corn and soyabean basis values were steady on Monday, with export demand expected to rise as Asian buyers return to the market after a week of holidays, traders said.
Hard and soft red winter wheat basis values were also unchanged, although export demand remains weak.
Weekend rains hit the driest sections of the US Plains hard red winter wheat belt, but it was unlikely to help the devastated crop, traders said. Wheat in the northern and eastern Plains could still benefit from more moisture.
In export activity, Jordan is tendering to buy 120,000 tonnes of US hard wheat under Public Law 480. South Korean millers are expected to tender later this week, said traders in Asia.
Corn values were steady, supported by brisk export demand, traders said.
Export activity included Israel buying 60,000 tonnes of corn for June shipment, probably from the United States. South Korea is expected to tender for corn this week for August arrival, said traders in Asia.
Importers in China were still awaiting permission to unload 100 tonnes of US corn in what is seen as a test of whether Beijing will allow imports in greater quantities in the future, said traders in Asia.
Traders are expecting that USDA data released Monday afternoon will show US corn seedings at 70 to 80 percent complete.
Soybean values were flat, with most export business going to South America, traders said.
In export activity, South Korea bought 55,000 tonnes of Brazilian soyabeans for delivery in August. Japan was expected to tender for soyabeans for June and mostly likely buy from Brazil, said traders in Asia.
Taiwan Sugar Corp may tender for a mixed shipment of corn and soyabeans later this week. Traders are expecting that USDA data released Monday afternoon will show US soyabean seedings at 20 to 25 percent complete.
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