US FOB Gulf corn basis offers were mostly steady on Thursday, supported by export demand, while soybeans were firm, dealers said.
USDA said exporters reported the sale of 148,336 tonnes of corn to Japan for delivery in the current marketing year ending August 31.
The agency also said weekly export sales of corn totalled 925,400 tonnes, with Japan taking 394,900 tonnes and 169,300 tonnes sold to unspecified buyers.
Dealers said corn supplies in the export pipeline were tight as farmers pushed ahead with their spring plantings.
Soybean basis values were firm amid tight domestic supplies, but there was a continued lack of export demand.
"We probably scared off any potential demand today," said one dealer, referring to the rally in CBOT soybeans.
CBOT May soybeans rose 18 cents to $10.14-1/2.
USDA said in its report that weekly export sales of soybeans were just 49,300 tonnes. Canada booked 30,000 tonnes, and Cuba 15,000 tonnes. Mexico cancelled purchases of 11,200 tonnes, the report said.
There was continued talk of China cancelling some of its soybean purchases from South America, but there was no independent confirmation of the talk that emerged Wednesday.
Hard and soft red winter wheat basis offers were mostly steady, with both markets looking for fresh demand.