US corn export premiums fell to the lowest level since early April on Thursday as poor export demand pressured the basis while futures also lost ground. USDA early Thursday put export sales of corn last week at a negative 140,400 tonnes after China cancelled 240,000 tonnes of new-crop sales. There was been little interest this week even after futures declined from last Friday's record peak, with exporters finding few takers for spot corn vessels, traders said.
The soy FOB basis held steady, supported by tight supplies. But top buyer China was said to be on the sidelines due to poor domestic crush margins.
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