Corn and soya export premiums steady at US Gulf Coast

Corn and soyabean export premiums at the US Gulf Coast were steady on Tuesday, with export demand waning in both markets, traders said. Hard and soft red winter wheat basis offers were also steady, with importers waiting on the sidelines for the harvest next month when prices will drop. "We are not going to see any demand show up before the harvest," a wheat exporter said.
Traders were also monitoring crop estimates from the second day of the hard red winter wheat crop tour. Wheat fields in central Kansas showed good yield potential after receiving some timely rains. Soyabean basis offers were steady, but there was a lack of demand, especially from China, traders said. "China has been absent because of poor crush margins there," a soya trader said, adding Chinese demand for South American soyabeans has also been slow.