Grain export premiums steady at US Gulf Coast

Corn, soyabean and wheat export premiums were quietly steady at the US Gulf Coast on Friday, with buyers largely remaining on the sidelines amid volatile trade in the futures market, traders said. Soyabean futures ended lower for the third consecutive week and fell to a one-month low, but little buying was seen late this week from top global soya importer China due to weak crush margins in the country.
HRW wheat premiums lacked definition as Iraq bought 100,000 tonnes of US supplies as well as 50,000 tonnes of wheat from Russia. Cheap wheat from the Black Sea region continues to undercut US export business even as the Iraq tender results provided a sign of optimism, traders said. Corn premiums were flat and demand slow.