Export premiums for corn shipped from the US Gulf Coast were mostly steady to firm on Thursday, with nearby offers lifted by rising CIF barge basis values and weaker futures prices, traders said. Heavy rains and wind from Tropical Storm Cindy, which has been downgraded to a tropical depression, delayed loadings at the Gulf, traders said. The storm made landfall on Thursday near the Texas-Louisiana border.
Soyabean export premiums were flat on light demand, with top importer China sourcing most of its recent purchases from South America. The US Department of Agriculture reported net cancellations of US soyabean export sales to China last week, the second net negative week of sales in three weeks.
Wheat export premiums were mostly steady. High-protein grades of hard red winter wheat maintained their large premium to lower-protein varieties. Egypt's GASC bought 175,000 tonnes of Romanian and Ukrainian wheat via a tender. No US wheat was offered. US wheat, shipped to Egypt, is not competitive with Black Sea shipments.
July corn vessels were offered around 39 cents over Chicago Board of Trade July futures.
Soyabean vessels loaded in late July were offered around 44 cents a bushel over CBOT July futures. SRW wheat offers were 50 cents a bushel over CBOT July futures. Premiums for 12-percent protein HRW wheat were 215 cents over July futures while 11.5 percent protein wheat was offered 160 cents over, traders said.
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