Export premiums for corn shipped from the US Gulf Coast were steady to firm on Thursday, underpinned by strong demand from routine buyers, traders said. Basis offers for vessels loaded in February and March were up 2 to 3 cents per bushel. Premiums for vessels loaded this month eased by 1 cent per bushel, pressured by a modest spike in farmer sales of corn that replenished supplies at the Gulf.
Taiwan's maize industry procurement association MFIG purchased around 65,000 tonnes of corn thought likely to be sourced from the United States in an international tender which closed on Thursday, European traders said. Soyabean and wheat export premiums were mostly unchanged in thin trading, with traders awaiting weekly US export sales data due for release by the US Department of Agriculture early on Friday.
Export demand for US grains and soyabeans has remained slow in the wake of the holiday season, and USDA has not reported any sales through its daily export sales reporting system of corn, soyabeans or wheat since December 23. January corn shipments were offered at about 57 cents over Chicago Board of Trade March futures, down 1 cent. February shipments were offered at 61 cents over futures, up 3 cents.
Offers for January soft red winter wheat shipments were about 65 cents over Chicago Board of Trade March futures. Spot hard red winter wheat cargoes were offered at 115 cents over K.C. hard winter wheat March futures. January US soyabean shipments were offered at 60 cents a bushel over CBOT January futures.
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