US corn and soyabean export premiums at the Gulf of Mexico were mostly steady on Monday, with demand for both lacklustre ahead of a key government report on supply/demand due on Friday, traders said. The US Department of Agriculture will issue its monthly update of crop supply/demand data on Friday.
Soft and hard red winter wheat basis offers were lower amid a lack of interest and ample supplies across the globe. Bangladesh has issued a tender to buy 60,000 tonnes of wheat of optional origin. Bidding deadline is November 16. Traders were awaiting results for its previous tender to buy 100,000 tonnes.
Jordan has tendered to buy 100,000 tonnes of optional origin hard wheat for December-January shipment. Bidding deadline was October 14. Israel has issued a tender to buy 20,000 tonnes of feed wheat, along with 20,000 tonnes of corn and 10,000 tonnes of feed barley. Bidding deadline is October 7. Traders said soyabean basis offers were steady, but demand was thin amid a long holiday in top buyer China. There was an unconfirmed rumour that US ethanol might be exported to Brazil, a major exporter of the biofuel, due to low corn prices and freight rates.