Wheat export premiums at the US Gulf Coast were steady to firm on Friday on good export demand, while soyabean and corn basis offers were unchanged in mostly quiet trade. Brazilian millers inquired about more US hard red winter wheat imports, mostly for November shipment, as Argentine wheat was not available. Concerns that a disappointing next harvest in Argentina could prompt export curbs and boost demand for US wheat.
Argentina's agriculture ministry this week pegged the country's 2013/14 harvest at 8.8 million tonnes, well below the latest US Agriculture Department estimate of 12 million tonnes. Other US wheat business included Japan buying 46,051 tonnes via a regular weekly tender and a purchase of 23,000 tonnes by South Korea's Samyang Milmax Corp. Also, Tunisia bought 75,000 tonnes of optional-origin milling wheat and Israel bought 25,000 tonnes of Black Sea feed wheat.
An Iraqi tender for at least 50,000 tonnes of wheat from numerous origins closes on Sunday for reply by next Thursday. Also tendering for wheat next week are Libya, Jordan, Bangladesh and Morocco. USDA on Friday confirmed private sales of 362,000 tonnes of US soyabeans to China and unknown destinations for 2013/14 shipment. The announcement appeared to confirm trade reports on Thursday that China bought at least six cargoes of US soyabeans for December and January shipment.
A Chinese importer may have bought two more cargoes of US soyabeans on Friday for January and February shipment, a trader said. USDA released delayed export sales data on Friday for the week ended September 26, which showed net corn and wheat sales slightly above trade forecasts and soyabean sales within the range of forecasts. USDA will release export sales data for the week ended October 4 next Thursday and all sales from October 4 to October 24 the following Thursday.
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