US soyabean export premiums at the Gulf of Mexico were steady on Friday and generally steady in the week, despite a lull in demand, as supplies remain tight and demand was expected to rebound next week, traders said. Quiet soyabean demand late this week following surge in prices in the past two days.
Traders in China, the world's top importer, return from week-long national holiday so sales could pick up next week. USDA raises forecast for 2009/10 marketing year US soyabean exports to record high 35.52 million tonnes. Spot CBOT soyabean futures hit 3-1/2-week high on tighter-than-expected supplies in USDA's monthly report on Friday. Futures up 8.9 percent in the week.
US corn export premiums were flat to lower on Friday on muted demand following jump in prices, traders said. Spot CBOT corn futures hit two-month high on Friday but lower. Up 8.6 percent in the week. Algeria buys 30,000 tonnes Ukrainian corn in optional-origin tender. Exporters scramble for export grade corn, soyabeans amid late harvest stalled by rain. CIF barge values seen firming if poor harvest weather persists.
Wheat export premiums mostly steady on Friday, but firm on the week amid signs of improving global demand and large hard wheat purchase by Iraq, traders said. CBOT wheat futures advanced 6.1 percent this week. Bid deadline on Friday for Saudi Arabia's 550,000-tonne optional-origin wheat tender.
US origin wheat prospects seen hampered by high prices, shipping costs, traders said. Morocco issues import licenses for 55,000 tonnes US wheat this week after tendering for 600,000 tonnes. Issues tender for import of 200,000 tonnes EU soft wheat on Friday, with bidding deadline on October 22.
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