US FOB Gulf HRW wheat offers higher on protein woes

Export premiums for hard red winter wheat shipped from the US Gulf Coast were higher on Friday amid tight supplies of high-protein grain and solid demand, traders said. Premiums for 12-percent protein HRW have widened to around 75 cents above 11.5 percent protein grain and more than $1 above 11-percent wheat, traders said. Harvest reports from the southern Plains suggest a lower-than-normal protein crop.
FOB export premiums for 12-percent protein hard red winter wheat at the Texas Gulf for July shipments were nominally around 210 cents over July futures. Soft red winter wheat export premiums were steady to firm on slow farmer sales that have limited the grain available to exporters. June soft red winter wheat shipments were about 55 cents a bushel over Chicago Board of Trade July futures.
Corn and soyabean export premiums were unchanged, with US shipments facing stiff competition from cheap South American new-crop supplies. Soyabean shipments loaded in July were offered about 43 cents a bushel over CBOT July futures. Corn shipments loaded in July were offered around 36 cents a bushel over CBOT July futures.