Export premiums for US soyabeans eased at the Gulf of Mexico on Thursday due to light demand for US supplies. Premiums for hard red winter wheat rose as few barges were in place to make deliveries if the need arose. Months of light demand have left dealers unprepared to ship wheat. Buyers would have to pay a premium to move wheat to the Gulf on short notice, a trader said.
Corn offers were unchanged. Some dealers pulled their offers for soyabeans that will be delivered in April due to the easy availability of supplies from South America. Argentine port workers end strike after deal. USDA's weekly export sales report released early on Thursday showed export sales of US wheat last week at 483,600 tonnes, above estimates for 300,000 to 450,000 tonnes.
Export sales of US corn last week were 826,500 tonnes, above estimates for 600,000 to 750,000 tonnes. Soyabean export sales were 388,500 tonnes, within estimates for 350,000 to 550,000 tonnes. Jordan tenders to buy 100,000 tonnes hard wheat. Turkey sells wheat, barley and durum in tender.
China buyers seen cancelling Argentina soyaoil cargoes as China retaliates against Argentina's anti-dumping measures over Chinese products. Exporters sell 140,000 tonnes US hard red winter wheat to Nigeria for 2010/11 delivery - USDA. Egypt's GASC buys 60,000 tonnes of Russian wheat from Alex Grain at $167.70 a tonne for June 1-15 shipment. Egypt's FIHC buys 16,000 tonnes sunflower oil in tender, May arrival.
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