US FOB Gulf basis offers for corn and soyabeans were slightly firmer for nearby shipments after this week's slide in futures stirred fresh demand and ocean freight eased, traders said late Thursday. HRW wheat offers were generally steady after ticking higher this week amid lower futures, slow farmer selling and increased domestic demand. SRW wheat values were unchanged as export demand remains quiet and Egypt's GASC bought only French wheat in its overnight tender.
FOB Gulf soyabeans for February were offered 2 cents higher at 89 cents over CBOT March futures, which fell 18-1/4 cents to $9.91 a bushel, despite strong weekly export data. USDA reported soyabean export sales for the week ended January 8 at 1.13 million bushels - up 66 percent from the four-week average, with nearly three-quarters to China. The big bookings came when China typically turns its focus to South America. Shipments were also large at 1.75 million tonnes.
USDA weekly corn sales were also higher than past weeks at 818,800 tonnes. The biggest chunk, or 374,100 tonnes, was to unknown destinations. But shipments of 400,200 tonnes were down 22 percent from the week before. USDA also on Thursday reported sales of 127,000 tonnes 2014/15 corn to Japan that occurred within the last business day. FOB Gulf corn for January-February-March was offered 2 cents higher, with January at 63 cents and February-March at 64 cents over CBOT March futures, which closed 1 cent lower at $3.80.
USDA said weekly wheat export sales were a meager 284,800 tonnes, down 11 percent from the four-week average. HRW wheat sales totaled 116,900 tonnes and SRW were only 2,900 tonnes. Hard red spring sales were 99,200 tonnes, including 55,000 tonnes to China. GASC only bought French wheat - 240,000 tonnes for February 19-28 shipment in its snap tender at average price $242.43 a tonne, FOB. Neither the US nor Russia offered wheat. SRW FOB offers for February were steady at 130 cents over CBOT March wheat, which closed down 5 cents at $5.32-3/4.
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