US CIF Gulf corn nearby basis values were slightly lower on Monday due to a few elevators moving corn, while soyabeans and wheat were steady, traders said.
Cash prices remain too low to spur much farmer selling, but a few elevators were shipping some corn to the Gulf, traders said.
"There's corn moving on the rail as well as barges to the Gulf," said a trader in Indiana. Recent drops in Chicago corn futures are expected to keep export demand for US corn brisk, traders said.
South Korean buyers, including Nonghyup Feed Inc, are expected to tender this week, said traders in Asia. They are hoping to buy corn for less than $130 per tonne, including cost and freight.
Japanese buyers were expected to be quiet, having already bought most of the corn they need for April through June, traders said.
Hard and soft red winter wheat values were unchanged, despite Egypt snubbing US wheat.
Egypt bought 120,000 tonnes of French milling wheat at $135.95 per tonne FOB from Cargill Inc and Louis Dreyfus Corp for April 21-30 shipment, traders said.
US soft white wheat was offered for as little as $133.07 per tonne FOB and US soft red winter wheat was offered at $138.49 per tonne FOB Atlantic, said traders who had seen the tender results.
US hard red winter wheat was offered for as little as $172.89 per tonne FOB - about 60 cents cheaper than Australian hard wheat, the traders said.
Soybean values were steady, supported by slow country movement and competition from processing plants. In parts of the Midwest, traders said processors are offering to buy soybeans at several cents a bushel premium to the CIF barge market.
Export demand remains lacklustre, with most buyers opting for cheaper supplies from South America. Brazil's soybean export sales in the 2006/07 marketing year rose 47 percent to more than 8 million tonnes through March 15, said a Brazilian trade group.
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