Wheat export premiums at the US Gulf Coast were mostly steady on Friday after firming earlier in the week on improving demand following a drop in futures prices, traders said. Importer interest was muted on Friday as prices have rebounded after hitting the lowest in nearly 10 months on Monday.
Details of a rumoured large new-crop SRW wheat purchase by China were scarce, although traders said the sale of at least 10 cargoes for shipment from June forward had likely occurred. The sales may not be confirmed by USDA's daily reporting system if the deals were done by multinational traders' overseas offices. Jordan's state grain buyer seeking to buy 100,000 tonnes optional-origin wheat. Tender closes April 11.
Corn export premiums at the US Gulf were steady, with nearby values underpinned by thin stocks and new-crop values supported by moderate demand. USDA on Friday confirmed private sales of 120,000 tonnes US corn for 2013/14 delivery to unknown destinations. The buyer was likely China, traders said. Corn export premiums in Argentina have jumped by as much as 60 cents per bushel since the USDA report late last week while US Gulf premiums held about steady, but US old-crop prices were still at a premium to South American.