CHICAGO: Wheat export premiums at the US Gulf Coast were flat on Thursday amid moderate demand as Brazilian millers asked about additional imports of hard red winter wheat and US prices grew more competitive for shipments to the Mediterranean, traders said.
Egypt's GASC bought 180,000 tonnes of French wheat and 60,000 tonnes of Romanian wheat for first-half December shipment. Some US wheat was offered in the tender for January shipment as Gulf capacity was unavailable for early December.
FOB basis offers for corn, soybean and wheat shipments from the Louisiana Gulf in November and much of December were unquoted as loading capacity was effectively sold out.
Brazilian millers bought two cargoes of hard red winter wheat on Wednesday and inquired about prices again on Thursday, although traders could not confirm any new sales.
Export premiums for corn and soybeans were mostly steady at the US Gulf, with nearby values unquoted due to a lack of available loading capacity, traders said.
China's soy imports in November and December, largely from the United States, should total some 14 million tonnes, the highest ever for that two-month period, according to traders, compared with 10 million tonnes in the same months in 2012.
The US Department of Agriculture will release weekly export sales data early on Friday, delayed by a day due to the Veterans Day holiday. Analysts estimated corn sales at 800,000 to 1 million tonnes, soybeans at 900,000 to 1.2 million tonnes and wheat at 350,000 to 550,000 tonnes.
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